Unifi (NYSE:UFI) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Unifi shares climbed above their 200-day moving average of $4.75, reaching as high as $7.72 before last trading at $7.34.
• Analyst sentiment remains cautious: Unifi has a consensus rating of “Sell”, despite one brokerage upgrading the stock to “Hold.”
• The company reported a quarterly loss of $0.06 per share, in line with expectations, while revenue of $144.22 million exceeded analysts’ forecast of $139.75 million; institutional investors own 67.67% of the shares.

Unifi, Inc. (NYSE:UFI - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.75 and traded as high as $7.72. Unifi shares last traded at $7.34, with a volume of 92,158 shares.

Analysts Set New Price Targets

Several brokerages recently commented on UFI. Weiss Ratings upgraded Unifi from a "sell (e+)" rating to a "sell (d-)" rating in a 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, According to data from MarketBeat, Unifi presently has a consensus rating of "Sell".

Unifi Price Performance

The company has a market capitalization of $136.45 million, a price-to-earnings ratio of -5.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.74 and a current ratio of 3.33. The business has a 50 day moving average price of $6.32 and a 200-day moving average price of $4.75.

Unifi (NYSE:UFI - Get Free Report) last released its earnings results on Wednesday, August 19th. The textile maker reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $144.22 million during the quarter, compared to analysts' expectations of $139.75 million. Unifi had a negative return on equity of 10.32% and a negative net margin of 4.62%.

Institutional Trading of Unifi

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new stake in shares of Unifi in the 3rd quarter valued at $54,000. Jane Street Group LLC bought a new position in Unifi during the first quarter worth $64,000. XTX Topco Ltd acquired a new stake in Unifi in the second quarter worth $80,000. Goldman Sachs Group Inc. bought a new stake in Unifi in the first quarter valued at $96,000. Finally, Vanguard Group Inc. increased its stake in Unifi by 3.0% in the third quarter. Vanguard Group Inc. now owns 730,812 shares of the textile maker's stock valued at $3,479,000 after purchasing an additional 21,195 shares in the last quarter. Institutional investors and hedge funds own 67.67% of the company's stock.

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.

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