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

Key Points

• Unifi, Inc. (NYSE: UFI) has seen its stock price drop below the 200-day moving average of $4.79, trading as low as $4.60.
• Wall Street Zen upgraded Unifi from a "sell" to a "hold" rating in a report published on September 13th, indicating cautious optimism for the stock.
• Unifi reported a loss of ($0.56) earnings per share for the last quarter, exceeding analysts' expectations, but its revenue fell short of estimates at $138.54 million.

Unifi, Inc. (NYSE:UFI - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.79 and traded as low as $4.60. Unifi shares last traded at $4.67, with a volume of 21,356 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Unifi from a "sell" rating to a "hold" rating in a report on Saturday, September 13th.

Unifi Stock Performance

The firm has a market capitalization of $85.65 million, a PE ratio of -4.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.32 and a quick ratio of 1.59. The stock has a 50-day moving average price of $4.54 and a 200-day moving average price of $4.79.

Unifi (NYSE:UFI - Get Free Report) last announced its earnings results on Wednesday, August 20th. The textile maker reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.24. The business had revenue of $138.54 million for the quarter, compared to analyst estimates of $149.84 million. Unifi had a negative return on equity of 19.64% and a negative net margin of 3.56%. On average, research analysts expect that Unifi, Inc. will post -2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Unifi

A number of hedge funds have recently bought and sold shares of UFI. 22NW LP grew its stake in Unifi by 212.9% in the first quarter. 22NW LP now owns 731,535 shares of the textile maker's stock worth $3,519,000 after purchasing an additional 497,758 shares in the last quarter. Minerva Advisors LLC grew its stake in Unifi by 19.5% in the second quarter. Minerva Advisors LLC now owns 1,085,209 shares of the textile maker's stock worth $5,665,000 after purchasing an additional 177,435 shares in the last quarter. Peapod Lane Capital LLC grew its stake in Unifi by 10.2% in the second quarter. Peapod Lane Capital LLC now owns 564,360 shares of the textile maker's stock worth $2,946,000 after purchasing an additional 52,008 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Unifi by 4.8% in the first quarter. Pinnacle Associates Ltd. now owns 1,004,564 shares of the textile maker's stock valued at $4,832,000 after acquiring an additional 46,401 shares during the period. Finally, BCS Private Wealth Management Inc. acquired a new position in Unifi in the second quarter valued at approximately $227,000. 67.67% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.