Short Interest in Natuzzi, S.p.A. (NYSE:NTZ) Increases By 143.9%

Natuzzi, S.p.A. (NYSE:NTZ) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 1,405 shares, an increase of 143.9% from the May 31st total of 576 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,824 shares, the days-to-cover ratio is currently 0.8 days.

Natuzzi Trading Up 4.9%

Shares of NTZ traded up $0.09 during mid-day trading on Wednesday, reaching $1.94. The company had a trading volume of 754 shares, compared to its average volume of 6,202. Natuzzi has a 52-week low of $1.85 and a 52-week high of $4.06. The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average of $2.50 and a two-hundred day moving average of $2.77.

Natuzzi (NYSE:NTZ) last announced its quarterly earnings results on Friday, May 15th. The company reported ($1.55) earnings per share for the quarter. Natuzzi had a negative net margin of 9.71% and a negative return on equity of 76.40%. The company had revenue of $90.93 million for the quarter.

Hedge Funds Weigh In On Natuzzi

Several institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in Natuzzi during the third quarter worth $36,000. Benjamin Edwards Inc. increased its holdings in Natuzzi by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after buying an additional 38,350 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Natuzzi in the first quarter worth about $1,817,000. Finally, Kanen Wealth Management LLC raised its position in shares of Natuzzi by 5.8% in the first quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after acquiring an additional 96,890 shares during the period. 6.07% of the stock is owned by hedge funds and other institutional investors.

Natuzzi Company Profile

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.