Manitex International (NASDAQ:MNTX) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Shares of Manitex International, Inc. (NASDAQ:MNTX - Get Free Report) passed 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.

Analysts Set New Price Targets

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

Manitex International Stock Performance

The firm has a market cap of $117.50 million, a PE ratio of 12.52 and a beta of 0.77. The business has a 50 day simple moving average of $5.71 and a two-hundred day simple moving average of $5.09. The company has a quick ratio of 0.66, a current ratio of 1.64 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. boosted its stake in shares of Manitex International by 17.8% in 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 during the last quarter. Renaissance Technologies LLC increased its stake in Manitex International by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company's stock worth $629,000 after buying an additional 16,433 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Manitex International by 2.9% in the second quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company's stock valued at $1,356,000 after acquiring an additional 8,500 shares in the last quarter. Marshall Wace LLP acquired a new position in Manitex International during the 2nd quarter worth $128,000. Finally, Pacific Ridge Capital Partners LLC grew its holdings in Manitex International by 0.3% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company's stock worth $4,064,000 after acquiring an additional 2,871 shares in the last quarter. 46.01% of the stock is currently owned by institutional investors and hedge funds.

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.