What Will Happen to Manitex International, Inc. (MNTX) Next? The Stock Formed a Several Months Bullish Multiple Top Pattern

April 23, 2018 - By Thomas Roop

Investors sentiment increased to 1.47 in Q4 2017. Its up 0.24, from 1.23 in 2017Q3. It increased, as 10 investors sold Manitex International, Inc. shares while 9 reduced holdings. 10 funds opened positions while 18 raised stakes. 9.90 million shares or 7.34% less from 10.68 million shares in 2017Q3 were reported.
Oberweis Asset Mgmt holds 0.32% or 142,000 shares in its portfolio. Beddow Management holds 0.14% of its portfolio in Manitex International, Inc. (NASDAQ:MNTX) for 35,000 shares. Wealthtrust Axiom Limited Company owns 863,164 shares. Janney Montgomery Scott Ltd holds 15,000 shares or 0% of its portfolio. Cannell Lc has invested 0.03% of its portfolio in Manitex International, Inc. (NASDAQ:MNTX). Blackrock Incorporated holds 0% or 47,507 shares in its portfolio. 334,593 were reported by Next Century Growth Invsts Ltd Liability Company. Essex Inv Mgmt Lc invested in 231,623 shares or 0.29% of the stock. Awm Invest has 0.91% invested in Manitex International, Inc. (NASDAQ:MNTX). Cutter & Brokerage Inc reported 10,260 shares. Auxier Asset Mngmt holds 0.37% or 202,181 shares. Cortina Asset Management has invested 0.33% in Manitex International, Inc. (NASDAQ:MNTX). Manatuck Hill Partners Limited Liability Corp reported 1.74% in Manitex International, Inc. (NASDAQ:MNTX). 530,789 were reported by Boston Prtnrs. Morgan Stanley stated it has 0% in Manitex International, Inc. (NASDAQ:MNTX).

The stock of Manitex International, Inc. (MNTX) shows a multiple tops pattern with $12.44 target or 8.00 % above today’s $11.52 share price. The 6 months chart pattern indicates low risk for the $191.95M company. It was reported on Apr, 23 by Finviz.com. If the $12.44 price target is reached, the company will be worth $15.36M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.12% or $0.13 during the last trading session, reaching $11.52. About 38,491 shares traded. Manitex International, Inc. (NASDAQ:MNTX) has risen 72.38% since April 23, 2017 and is uptrending. It has outperformed by 60.83% the S&P500.

Analysts await Manitex International, Inc. (NASDAQ:MNTX) to report earnings on May, 3. They expect $0.04 EPS, up 33.33 % or $0.01 from last year’s $0.03 per share. MNTX’s profit will be $666,497 for 72.00 P/E if the $0.04 EPS becomes a reality. After $0.05 actual EPS reported by Manitex International, Inc. for the previous quarter, Wall Street now forecasts -20.00 % negative EPS growth.

Manitex International, Inc. (NASDAQ:MNTX) Ratings Coverage

Among 2 analysts covering Manitex International (NASDAQ:MNTX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Manitex International has $1300 highest and $12.0 lowest target. $13’s average target is 12.85% above currents $11.52 stock price. Manitex International had 4 analyst reports since November 7, 2017 according to SRatingsIntel. The stock has “Buy” rating by Seaport Global on Wednesday, February 7. The firm has “Buy” rating given on Wednesday, April 18 by Seaport Global. The firm has “Hold” rating by Roth Capital given on Tuesday, November 7. The stock has “Buy” rating by Roth Capital on Thursday, February 8.

Manitex International, Inc. (NASDAQ:MNTX) Institutional Positions Chart

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