Unifi (NYSE:UFI) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Shares of Unifi, Inc. (NYSE:UFI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.13 and traded as low as $3.83. Unifi shares last traded at $3.89, with a volume of 19,257 shares.

Analysts Set New Price Targets

UFI has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Unifi in a report on Wednesday, January 21st. Wall Street Zen raised shares of Unifi to a “sell” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Unifi currently has a consensus rating of “Sell”.

Unifi Stock Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 3.59. The stock has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $4.13. The stock has a market cap of $71.42 million, a PE ratio of -2.90 and a beta of 0.69.

Unifi (NYSE:UFI) last posted its quarterly earnings data on Tuesday, November 4th. The textile maker reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. Unifi had a negative net margin of 4.30% and a negative return on equity of 21.13%. The company had revenue of $135.67 million for the quarter, compared to analyst estimates of $140.23 million. Equities analysts anticipate that Unifi, Inc. will post -2.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kenneth G. Langone acquired 40,451 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $3.50 per share, with a total value of $141,578.50. Following the transaction, the director directly owned 2,466,245 shares in the company, valued at approximately $8,631,857.50. This represents a 1.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.63% of the stock is owned by corporate insiders.

Institutional Trading of Unifi

A number of hedge funds and other institutional investors have recently modified their holdings of UFI. Squarepoint Ops LLC purchased a new position in Unifi in the third quarter valued at about $54,000. Jane Street Group LLC acquired a new position in shares of Unifi in the 1st quarter valued at approximately $64,000. XTX Topco Ltd purchased a new position in shares of Unifi during the 2nd quarter valued at approximately $80,000. Assenagon Asset Management S.A. purchased a new position in shares of Unifi during the 3rd quarter valued at approximately $92,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Unifi during the first quarter worth approximately $96,000. 67.67% of the stock is owned by hedge funds and other institutional investors.

About Unifi

Unifi, Inc (NYSE: UFI) is a global manufacturer of polyester and nylon textured yarns and fibers, specializing in both virgin and recycled synthetic materials. Headquartered in Greensboro, North Carolina, the company serves a diverse range of end markets including apparel, athleisure, home furnishings, automotive and industrial applications. Unifi’s vertically integrated operations encompass polymer extrusion, spinning, texturing, and finishing processes designed to meet the performance and aesthetic requirements of its customers.

A key differentiator for Unifi is its REPREVE® brand, a family of certified recycled performance fibers made from post‐consumer plastic bottles and other waste streams.