Virco Mfg. (NASDAQ:VIRC) Shares Pass Above Two Hundred Day Moving Average of $0.00

Shares of Virco Mfg. Co. (NASDAQ:VIRC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $4.50. Virco Mfg. shares last traded at $4.44, with a volume of 162 shares.

Separately, Zacks Investment Research cut shares of Virco Mfg. from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th.

The company has a current ratio of 1.48, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $70.09 million, a price-to-earnings ratio of -43.60 and a beta of 0.78. The stock has a 50 day moving average of $4.39.

Virco Mfg. (NASDAQ:VIRC) last announced its quarterly earnings data on Friday, June 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.06). Virco Mfg. had a negative net margin of 0.54% and a negative return on equity of 1.90%. The business had revenue of $26.89 million during the quarter, compared to analysts’ expectations of $23.20 million. On average, sell-side analysts anticipate that Virco Mfg. Co. will post 0.03 EPS for the current year.

A hedge fund recently raised its stake in Virco Mfg. stock. Wedbush Securities Inc. raised its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,728,938 shares of the company’s stock after buying an additional 10,602 shares during the period. Virco Mfg. comprises about 0.8% of Wedbush Securities Inc.’s investment portfolio, making the stock its 18th biggest holding. Wedbush Securities Inc. owned approximately 11.12% of Virco Mfg. worth $7,486,000 at the end of the most recent reporting period. 31.29% of the stock is currently owned by hedge funds and other institutional investors.

About Virco Mfg. (NASDAQ:VIRC)

Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever and tablet arm chairs, work surfaces and compact footprints, steel-frame rockers, stools, task and classroom chairs, stack and folding chairs, hard plastic seats, upholstered stack and ergonomic chairs, and plastic stack chairs.

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