Schmitt Industries, Inc. (NASDAQ:SMIT – Get Rating) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.81 and traded as low as $0.21. Schmitt Industries shares last traded at $0.32, with a volume of 456,052 shares trading hands.

Schmitt Industries Trading Up 10.3 %

The company has a current ratio of 0.69, a quick ratio of 0.44 and a debt-to-equity ratio of 27.12. The business has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $2.81. The stock has a market cap of $1.24 million, a price-to-earnings ratio of -0.37 and a beta of 0.90.

Institutional Trading of Schmitt Industries

A hedge fund recently bought a new stake in Schmitt Industries stock. Virtu Financial LLC acquired a new stake in Schmitt Industries, Inc. (NASDAQ:SMIT – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,177 shares of the scientific and technical instruments company's stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.42% of Schmitt Industries as of its most recent SEC filing. 35.34% of the stock is currently owned by hedge funds and other institutional investors.

About Schmitt Industries

Schmitt Industries, Inc, together with its subsidiaries, designs, manufactures, and sells test and measurement products worldwide. The company operates through two segments, Measurement and Ice Cream. The Measurement segment designs, manufactures, and sells laser and confocal chromatic white light sensors for distance measurement and dimensional sizing products under the Acuity brand name for various industrial applications, including manufacturing, lumber production, steel casting, glass and paper production, medical imaging, crane control and micron-level part, and surface inspection.

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