Culp (NYSE:CULP) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Culp, Inc. shares have crossed above the 200-day moving average, trading at $4.32 with a market capitalization of $54.38 million.
• The company reported earnings per share of ($0.02), outperforming expectations of ($0.12), though revenues fell short at $50.69 million compared to the forecast of $57.50 million.
• Insider transactions indicate confidence in the company, as CEO Robert George Iv Culp purchased 7,428 shares, increasing his ownership by 7.14%.

Culp, Inc. (NYSE:CULP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.28 and traded as high as $4.39. Culp shares last traded at $4.32, with a volume of 5,449 shares.

Culp Stock Down 3.2%

The company has a market capitalization of $54.38 million, a price-to-earnings ratio of -4.45 and a beta of 1.08. The stock's fifty day simple moving average is $4.31 and its two-hundred day simple moving average is $4.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.86 and a quick ratio of 0.81.

Culp (NYSE:CULP - Get Free Report) last issued its earnings results on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.10. The company had revenue of $50.69 million for the quarter, compared to analysts' expectations of $57.50 million. Culp had a negative net margin of 5.82% and a negative return on equity of 11.68%. During the same period in the prior year, the company earned ($0.36) earnings per share.

Insider Buying and Selling at Culp

In other Culp news, CEO Robert George Iv Culp bought 7,428 shares of the company's stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $4.42 per share, with a total value of $32,831.76. Following the completion of the acquisition, the chief executive officer owned 111,458 shares of the company's stock, valued at approximately $492,644.36. This trade represents a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 15,147 shares of company stock worth $66,292 over the last 90 days. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Culp

A number of large investors have recently modified their holdings of CULP. Citadel Advisors LLC increased its holdings in shares of Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock worth $161,000 after acquiring an additional 7,386 shares during the period. Wealthedge Investment Advisors LLC increased its holdings in shares of Culp by 132.2% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 54,045 shares of the textile maker's stock worth $270,000 after acquiring an additional 30,772 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Culp by 10.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker's stock worth $2,731,000 after acquiring an additional 62,932 shares during the period. Finally, 22NW LP increased its holdings in shares of Culp by 14.4% in the 1st quarter. 22NW LP now owns 1,859,061 shares of the textile maker's stock worth $9,295,000 after acquiring an additional 234,346 shares during the period. Institutional investors and hedge funds own 75.05% of the company's stock.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.

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