Unifi (NYSE:UFI) Stock Price Passes Below 200 Day Moving Average - Should You Sell?

Key Points

• Unifi's stock price has fallen below its 200-day moving average, trading at $4.43 while the average stands at $5.05.
• Analysts at Wall Street Zen have downgraded Unifi from a "hold" rating to a "sell" rating as of May 8th.
• Several hedge funds have increased their stakes in Unifi, with institutional investors now owning 67.67% of the company's stock.

Unifi, Inc. (NYSE:UFI - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.05 and traded as low as $4.39. Unifi shares last traded at $4.43, with a volume of 19,694 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Unifi from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th.

Unifi Stock Down 2.7%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.45 and a current ratio of 3.12. The firm has a fifty day moving average price of $4.80 and a 200 day moving average price of $5.03. The firm has a market capitalization of $80.78 million, a price-to-earnings ratio of -2.02, a PEG ratio of 1.26 and a beta of 0.56.

Institutional Trading of Unifi

Several hedge funds have recently modified their holdings of UFI. Dimensional Fund Advisors LP lifted its holdings in shares of Unifi by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 703,151 shares of the textile maker's stock valued at $4,394,000 after buying an additional 25,156 shares during the period. OneDigital Investment Advisors LLC increased its stake in Unifi by 53.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 23,000 shares of the textile maker's stock valued at $144,000 after purchasing an additional 8,000 shares in the last quarter. Northern Trust Corp increased its stake in Unifi by 22.4% in the 4th quarter. Northern Trust Corp now owns 65,179 shares of the textile maker's stock valued at $407,000 after purchasing an additional 11,919 shares in the last quarter. 22NW LP purchased a new position in Unifi in the 4th quarter valued at approximately $1,461,000. Finally, Pinnacle Associates Ltd. increased its stake in Unifi by 4.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,004,564 shares of the textile maker's stock valued at $4,832,000 after purchasing an additional 46,401 shares in the last quarter. 67.67% of the stock is 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.