Ermenegildo Zegna (NYSE:ZGN) Sets New 12-Month Low – Should You Sell?

Ermenegildo Zegna (NYSE:ZGN)’s share price hit a new 52-week low on Wednesday . The company traded as low as $7.51 and last traded at $7.55, with a volume of 7361 shares trading hands. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $9.80 in a research note on Monday, September 23rd.

Ermenegildo Zegna Stock Down 5.5 %

The firm has a 50-day simple moving average of $8.93 and a 200 day simple moving average of $10.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors have recently added to or reduced their stakes in the business. Roubaix Capital LLC bought a new position in Ermenegildo Zegna during the 3rd quarter worth $2,481,000. SG Americas Securities LLC acquired a new stake in shares of Ermenegildo Zegna in the third quarter valued at about $330,000. Public Investment Fund raised its position in shares of Ermenegildo Zegna by 25.9% during the second quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock worth $43,929,000 after acquiring an additional 764,122 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Ermenegildo Zegna by 547.4% in the second quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock worth $2,833,000 after acquiring an additional 202,281 shares during the period. Finally, nVerses Capital LLC boosted its holdings in Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after acquiring an additional 2,100 shares during the last quarter. 12.91% of the stock is owned by institutional investors.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.