Shares of Universal Technical Institute Inc. (NYSE:UTI) were down 6.2% on Wednesday . The stock traded as low as $2.38 and last traded at $2.41, with a volume of 66,487 shares changing hands. The stock had previously closed at $2.57.

The company’s market capitalization is $58.18 million. The firm’s 50 day moving average is $2.68 and its 200-day moving average is $3.51.

Universal Technical Institute (NYSE:UTI) last issued its earnings results on Thursday, April 28th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The company had revenue of $88.20 million for the quarter, compared to analyst estimates of $84.50 million. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. Analysts expect that Universal Technical Institute Inc. will post ($1.05) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Universal Technical Institute stock. First Trust Advisors LP raised its stake in shares of Universal Technical Institute Inc. (NYSE:UTI) by 150.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 582,469 shares of the company’s stock after buying an additional 350,001 shares during the period. First Trust Advisors LP owned approximately 2.40% of Universal Technical Institute worth $2,714,000 as of its most recent SEC filing.

Universal Technical Institute, Inc provides postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. The Company segments are Postsecondary education and Other. It offers undergraduate degree or diploma programs at approximately 10 campuses across the United States under the banner of various brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (collectively, MMI) and NASCAR Technical Institute.

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