Bridgford Foods (NASDAQ:BRID) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Bridgford Foods Co. (NASDAQ:BRID) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.71 and traded as high as $10.80. Bridgford Foods shares last traded at $10.80, with a volume of 632 shares trading hands.

Bridgford Foods Stock Performance

The firm has a market cap of $98.03 million, a price-to-earnings ratio of -98.17 and a beta of -0.65. The stock has a 50 day moving average of $9.71 and a 200 day moving average of $9.73. The company has a quick ratio of 2.49, a current ratio of 4.28 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bridgford Foods stock. Factorial Partners LLC purchased a new stake in Bridgford Foods Co. (NASDAQ:BRID) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,980 shares of the company’s stock, valued at approximately $200,000. 4.68% of the stock is owned by institutional investors.

About Bridgford Foods

Bridgford Foods Corporation, together with its subsidiaries, manufactures, markets, and distributes frozen and snack food products in the United States. It operates in two segments, Frozen Food Products and Snack Food Products. The company offers biscuits, bread dough items, roll dough items, and dry sausage and beef jerky products, as well as ready to eat sandwiches and non-refrigerated snack food products.