Flexsteel Industries (NASDAQ:FLXS) Stock Price Passes Below 200-Day Moving Average of $20.85

Flexsteel Industries, Inc. (NASDAQ:FLXS) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.85 and traded as low as $16.12. Flexsteel Industries shares last traded at $16.12, with a volume of 4,899 shares.

Several brokerages recently weighed in on FLXS. TheStreet downgraded shares of Flexsteel Industries from a “c” rating to a “d+” rating in a research note on Tuesday, April 30th. ValuEngine raised shares of Flexsteel Industries from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

The firm’s 50 day moving average is $17.09 and its two-hundred day moving average is $20.85. The stock has a market capitalization of $132.86 million, a PE ratio of 22.15 and a beta of 1.56.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Flexsteel Industries by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 662,299 shares of the company’s stock valued at $14,624,000 after purchasing an additional 2,195 shares during the last quarter. Royce & Associates LP boosted its stake in Flexsteel Industries by 1.5% during the 1st quarter. Royce & Associates LP now owns 1,158,100 shares of the company’s stock worth $26,856,000 after purchasing an additional 17,000 shares during the period. Janney Montgomery Scott LLC boosted its stake in Flexsteel Industries by 28.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,500 shares of the company’s stock worth $568,000 after purchasing an additional 5,380 shares during the period. Geode Capital Management LLC boosted its stake in Flexsteel Industries by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 134,187 shares of the company’s stock worth $2,961,000 after purchasing an additional 6,527 shares during the period. Finally, Bank of America Corp DE boosted its stake in Flexsteel Industries by 43.3% during the 4th quarter. Bank of America Corp DE now owns 6,336 shares of the company’s stock worth $141,000 after purchasing an additional 1,914 shares during the period. 63.37% of the stock is currently owned by hedge funds and other institutional investors.

Flexsteel Industries Company Profile (NASDAQ:FLXS)

Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers its products for use in home, hotel, healthcare, recreational vehicle, marine, and office applications. The company distributes its products through its sales force and independent representatives.

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