Unifi (NYSE:UFI) Shares Pass Above 200-Day Moving Average – Here’s Why

Unifi, Inc. (NYSE:UFI) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

UFI has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Unifi to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of Unifi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Unifi presently has a consensus rating of “Sell”.

Unifi Stock Up 0.5%

The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 1.74. The company has a market capitalization of $138.03 million, a PE ratio of -5.58 and a beta of 0.71. The business has a 50-day moving average of $6.37 and a 200 day moving average of $4.77.

Unifi (NYSE:UFI) last announced its quarterly earnings results on Wednesday, August 19th. The textile maker reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Unifi had a negative return on equity of 10.32% and a negative net margin of 4.62%.The company had revenue of $144.22 million during the quarter, compared to analyst estimates of $139.75 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UFI. Squarepoint Ops LLC purchased a new stake in Unifi during the third quarter valued at $54,000. Jane Street Group LLC purchased a new position in shares of Unifi in the 1st quarter worth $64,000. XTX Topco Ltd bought a new stake in shares of Unifi in the 4th quarter worth about $78,000. Goldman Sachs Group Inc. bought a new stake in shares of Unifi in the 1st quarter worth about $96,000. Finally, Marshall Wace LLP purchased a new stake in shares of Unifi during the 4th quarter valued at about $116,000. 67.67% of the stock is 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.