Manitex International (NASDAQ:MNTX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Manitex International, Inc. (NASDAQ:MNTX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.09 and traded as high as $5.77. Manitex International shares last traded at $5.76, with a volume of 110,460 shares trading hands.

Wall Street Analysts Forecast Growth

MNTX has been the topic of several analyst reports. Northland Securities reissued a “market perform” rating and issued a $5.80 price objective (down previously from $8.00) on shares of Manitex International in a research note on Friday, September 13th. Northland Capmk downgraded shares of Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, StockNews.com started coverage on shares of Manitex International in a research report on Friday. They set a “hold” rating for the company.

Manitex International Stock Performance

The firm has a market capitalization of $117.50 million, a P/E ratio of 12.52 and a beta of 0.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 0.66. The stock has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $5.09.

Institutional Trading of Manitex International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new position in shares of Manitex International during the third quarter worth approximately $69,000. Cutter & CO Brokerage Inc. increased its position in shares of Manitex International by 17.8% during the second quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 3,340 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Manitex International in the 2nd quarter worth about $128,000. Virtu Financial LLC bought a new position in Manitex International in the 3rd quarter valued at about $248,000. Finally, Empowered Funds LLC bought a new stake in Manitex International during the 3rd quarter worth approximately $480,000. 46.01% of the stock is owned by institutional investors.

About Manitex International

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.