Manitex International Inc. (MNTX) is one of the best performing stocks in the industrial goods sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on September 22. Shares of MNTX have climbed 5.07% about 30 minutes into the session to $5.6 after closing the day prior at $5.33. It’s early, but the stock has traded as high as $5.74 and as low as $5.42 so far. Today’s quick advance has come with about 2,977 shares changing hands, compared to an average 30-day volume of 59,965 for Manitex International Inc.. The price is currently below the 30-day volume weighted average price of $5.57 for MNTX.
The share appreciation gives the company a market capitalization of $85.95 million based upon 16.13 million shares outstanding. It also means that MNTX has a price-to-book ratio of :1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of MNTX have traded as low as $4.25 and as high as $7.6799. Technical traders will take note that at $5.6, shares of MNTX are trading below their 200-day MA at $6.08 and below their 50-day MA at $6.43. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is MNTX?
Manitex International Inc, through its subsidiaries, is engaged in the design, manufacture and distribution of engineered lifting solutions. Its products include boom trucks, truck cranes and sign cranes. The company’s 961 employees are led by CEO David J. Langevin from the corporate headquarters at 9725 Industrial Drive.
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