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

Shares of Unifi, Inc. (NYSE:UFI) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.43 and traded as low as $3.43. Unifi shares last traded at $3.5480, with a volume of 54,298 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Unifi in a research report on Wednesday, October 8th. 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.com, the company has a consensus rating of “Sell”.

Unifi Stock Down 0.1%

The business has a fifty day moving average price of $3.92 and a two-hundred day moving average price of $4.43. The company has a current ratio of 3.59, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The company has a market cap of $65.14 million, a price-to-earnings ratio of -2.65 and a beta of 0.73.

Unifi (NYSE:UFI) last posted its quarterly earnings results on Tuesday, November 4th. The textile maker reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.04. The business had revenue of $135.67 million during the quarter, compared to analysts’ expectations of $140.23 million. Unifi had a negative net margin of 4.30% and a negative return on equity of 21.13%. On average, equities analysts predict that Unifi, Inc. will post -2.25 earnings per share for the current year.

Insider Transactions at Unifi

In other news, Director Kenneth G. Langone bought 25,811 shares of the stock in a transaction on Thursday, December 4th. The shares were purchased at an average price of $3.42 per share, for a total transaction of $88,273.62. Following the completion of the purchase, the director directly owned 2,492,056 shares of the company’s stock, valued at $8,522,831.52. This trade represents a 1.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.63% of the company’s stock.

Institutional Investors Weigh In On Unifi

Several institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new position in Unifi during the third quarter valued at approximately $54,000. Jane Street Group LLC acquired a new stake in shares of Unifi in the 1st quarter valued at $64,000. XTX Topco Ltd bought a new stake in Unifi in the second quarter worth $80,000. Assenagon Asset Management S.A. acquired a new position in Unifi during the third quarter worth $92,000. Finally, Goldman Sachs Group Inc. bought a new position in Unifi during the first quarter valued at about $96,000. 67.67% of the stock is currently owned by institutional investors and hedge funds.

About Unifi

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.