Unifi (NYSE:UFI) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Unifi, Inc. (NYSE:UFI)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.36 and traded as low as $3.21. Unifi shares last traded at $3.29, with a volume of 89,985 shares traded.

Analysts Set New Price Targets

UFI has been the subject of several recent research reports. Wall Street Zen upgraded Unifi to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Unifi in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Unifi has an average rating of “Sell”.

Unifi Trading Up 0.9%

The stock has a market cap of $60.41 million, a P/E ratio of -2.46 and a beta of 0.73. The firm’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $4.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.59 and a quick ratio of 1.68.

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 the consensus estimate of ($0.60) by $0.04. The company had revenue of $135.67 million during the quarter, compared to analyst estimates of $140.23 million. Unifi had a negative return on equity of 21.13% and a negative net margin of 4.30%. As a group, equities research analysts forecast that Unifi, Inc. will post -2.25 EPS for the current year.

Insider Buying and Selling at Unifi

In related news, Director Kenneth G. Langone bought 40,451 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average cost of $3.50 per share, with a total value of $141,578.50. Following the completion of the purchase, the director directly owned 2,466,245 shares of the company’s stock, valued at $8,631,857.50. This trade represents a 1.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 18.63% of the company’s stock.

Hedge Funds Weigh In On Unifi

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Unifi during the 3rd quarter valued at $54,000. Jane Street Group LLC bought a new position in Unifi in the first quarter valued at $64,000. XTX Topco Ltd purchased a new stake in Unifi during the second quarter valued at about $80,000. Assenagon Asset Management S.A. bought a new stake in Unifi during the third quarter worth about $92,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Unifi in the 1st quarter worth about $96,000. Institutional investors own 67.67% of the company’s stock.

Unifi Company Profile

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.