Maui Land & Pineapple (NYSE:MLP) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Maui Land & Pineapple Company, Inc. (NYSE:MLP)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.68 and traded as low as $16.28. Maui Land & Pineapple shares last traded at $16.5310, with a volume of 25,427 shares.

Analysts Set New Price Targets

A number of research analysts have commented on MLP shares. Wall Street Zen downgraded shares of Maui Land & Pineapple from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings raised shares of Maui Land & Pineapple from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Maui Land & Pineapple Price Performance

The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market cap of $328.31 million, a P/E ratio of -82.65 and a beta of 0.67. The firm has a 50-day simple moving average of $16.98 and a 200-day simple moving average of $16.68.

Maui Land & Pineapple (NYSE:MLP) last announced its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $3.40 million during the quarter. Maui Land & Pineapple had a negative net margin of 23.44% and a negative return on equity of 12.78%.

Hedge Funds Weigh In On Maui Land & Pineapple

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLP. Strs Ohio purchased a new stake in shares of Maui Land & Pineapple during the first quarter valued at about $26,000. Tower Research Capital LLC TRC grew its position in shares of Maui Land & Pineapple by 339.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,818 shares of the financial services provider’s stock worth $51,000 after buying an additional 2,177 shares during the last quarter. Deutsche Bank AG grew its position in shares of Maui Land & Pineapple by 23.4% in the 4th quarter. Deutsche Bank AG now owns 5,264 shares of the financial services provider’s stock worth $89,000 after buying an additional 999 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Maui Land & Pineapple by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 7,477 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Maui Land & Pineapple during the 1st quarter worth approximately $159,000. Hedge funds and other institutional investors own 24.55% of the company’s stock.

About Maui Land & Pineapple

Maui Land & Pineapple Company, Inc (NYSE: MLP) is a real estate development and natural resource management enterprise headquartered in Kahului on the island of Maui, Hawaii. The company maintains a diversified portfolio of commercial, industrial, retail, hospitality and residential properties, primarily serving the local Maui market. Through its property management and leasing activities, MLP supports a range of tenants and projects designed to meet the evolving needs of residents, small businesses and visitors to the island.

Originally best known for its pineapple cultivation operations dating back to the early 20th century, MLP transitioned from its agricultural roots following the divestiture of its pineapple farming business in 2009.