Unifi (NYSE:UFI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Unifi, Inc. (NYSE:UFI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.32 and traded as high as $6.95. Unifi shares last traded at $6.5830, with a volume of 132,908 shares.

Analysts Set New Price Targets

UFI has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Unifi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Wall Street Zen raised shares of Unifi to a “hold” rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Unifi Stock Performance

The company has a quick ratio of 1.59, a current ratio of 3.12 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $5.27 and a 200 day simple moving average of $4.36. The company has a market cap of $134.13 million, a price-to-earnings ratio of -16.03, a price-to-earnings-growth ratio of 6.39 and a beta of 0.69.

Unifi (NYSE:UFI) last announced its earnings results on Tuesday, May 5th. The textile maker reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Unifi had a negative net margin of 1.50% and a negative return on equity of 14.14%. The business had revenue of $130.04 million for the quarter, compared to analyst estimates of $130.52 million. On average, sell-side analysts predict that Unifi, Inc. will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unifi

A number of institutional investors and hedge funds have recently made changes to their positions in UFI. Azarias Capital Management L.P. raised its holdings in Unifi by 11.3% during the fourth quarter. Azarias Capital Management L.P. now owns 904,013 shares of the textile maker’s stock worth $3,164,000 after purchasing an additional 91,455 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in Unifi in the 2nd quarter valued at approximately $374,000. Minerva Advisors LLC boosted its holdings in Unifi by 6.1% in the 4th quarter. Minerva Advisors LLC now owns 1,222,420 shares of the textile maker’s stock valued at $4,278,000 after purchasing an additional 69,939 shares in the last quarter. Jane Street Group LLC increased its position in Unifi by 386.9% during the 4th quarter. Jane Street Group LLC now owns 58,311 shares of the textile maker’s stock worth $204,000 after purchasing an additional 46,336 shares during the period. Finally, Marshall Wace LLP acquired a new position in Unifi during the 4th quarter worth approximately $116,000. 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.