Smith-Midland (NASDAQ:SMID) Share Price Crosses Below 50-Day Moving Average – Should You Sell?

Smith-Midland Corp. (NASDAQ:SMID)’s share price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $23.45 and traded as low as $18.88. Smith-Midland shares last traded at $21.51, with a volume of 113,421 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Smith-Midland from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company has an average rating of “Hold”.

Smith-Midland Stock Down 17.8%

The company has a quick ratio of 3.31, a current ratio of 4.06 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $23.45 and a two-hundred day simple moving average of $29.30. The stock has a market cap of $114.00 million, a P/E ratio of 14.83 and a beta of 1.51.

Smith-Midland (NASDAQ:SMID) last released its quarterly earnings data on Friday, August 14th. The company reported $0.26 earnings per share for the quarter. Smith-Midland had a return on equity of 14.06% and a net margin of 8.59%. The firm had revenue of $23.36 million during the quarter.

Institutional Investors Weigh In On Smith-Midland

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC purchased a new position in shares of Smith-Midland in the third quarter valued at about $232,000. Russell Investments Group Ltd. boosted its holdings in shares of Smith-Midland by 2,326.8% during the third quarter. Russell Investments Group Ltd. now owns 22,642 shares of the company’s stock worth $516,000 after purchasing an additional 21,709 shares during the period. Womack Financial LLC purchased a new stake in shares of Smith-Midland during the third quarter worth about $217,000. Bard Associates Inc. purchased a new stake in shares of Smith-Midland during the second quarter worth about $2,316,000. Finally, BlackRock Inc. bought a new stake in shares of Smith-Midland in the second quarter worth about $5,697,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

About Smith-Midland

Smith-Midland Corporation is a precast concrete manufacturer and construction products company headquartered in Midland, Virginia. The company develops, manufactures and markets precast concrete systems for the commercial, industrial, transportation, utility and residential construction markets. Its products include modular precast concrete buildings, utility and storage structures, highway and traffic barriers, sound walls, architectural panels, retaining walls and other customized precast components.