Unifi (NYSE:UFI) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Unifi, Inc. (NYSE:UFI)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.09 and traded as high as $6.39. Unifi shares last traded at $6.1580, with a volume of 85,448 shares.

Wall Street Analyst Weigh In

Several brokerages have commented on UFI. Wall Street Zen raised shares of Unifi to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings upgraded Unifi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Unifi Stock Down 2.6%

The company has a debt-to-equity ratio of 0.35, a current ratio of 3.12 and a quick ratio of 1.59. The company has a fifty day moving average price of $4.60 and a 200 day moving average price of $4.09. The company has a market cap of $114.48 million, a PE ratio of -13.68, a price-to-earnings-growth ratio of 5.85 and a beta of 0.72.

Unifi (NYSE:UFI) last announced its earnings results on Tuesday, May 5th. The textile maker reported ($0.20) earnings per share for the quarter, beating 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 the consensus estimate of $130.52 million. As a group, analysts anticipate that Unifi, Inc. will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Azarias Capital Management L.P. lifted its stake 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 during the last quarter. Marquette Asset Management LLC bought a new position in shares of Unifi during the 2nd quarter valued at about $374,000. Minerva Advisors LLC increased its position in shares of Unifi by 6.1% during 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 during the last quarter. Jane Street Group LLC raised its holdings in shares of Unifi by 386.9% during the 4th quarter. Jane Street Group LLC now owns 58,311 shares of the textile maker’s stock valued at $204,000 after buying an additional 46,336 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Unifi during the 4th quarter valued at about $116,000. 67.67% of the stock is currently owned by hedge funds and other institutional investors.

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.