Unifi (NYSE:UFI) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Unifi, Inc. (NYSE:UFI)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.21 and traded as high as $6.65. Unifi shares last traded at $6.5150, with a volume of 102,540 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UFI. Weiss Ratings raised shares of Unifi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Wall Street Zen upgraded shares of Unifi to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Unifi Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 3.12 and a quick ratio of 1.59. The stock has a market cap of $114.20 million, a P/E ratio of -13.65, a PEG ratio of 6.03 and a beta of 0.72. The stock has a 50-day simple moving average of $4.91 and a 200-day simple moving average of $4.23.

Unifi (NYSE:UFI) last posted its quarterly earnings results on Tuesday, May 5th. The textile maker reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $130.04 million for the quarter, compared to the consensus estimate of $130.52 million. Unifi had a negative net margin of 1.50% and a negative return on equity of 14.14%. Research analysts forecast that Unifi, Inc. will post -1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. grew its position in Unifi by 11.3% in the 4th quarter. Azarias Capital Management L.P. now owns 904,013 shares of the textile maker’s stock valued at $3,164,000 after purchasing an additional 91,455 shares during the period. Marquette Asset Management LLC bought a new position in shares of Unifi in the second quarter valued at approximately $374,000. Minerva Advisors LLC lifted its holdings in Unifi by 6.1% during the fourth quarter. Minerva Advisors LLC now owns 1,222,420 shares of the textile maker’s stock worth $4,278,000 after acquiring an additional 69,939 shares during the period. Jane Street Group LLC boosted its position in Unifi by 386.9% in the fourth quarter. Jane Street Group LLC now owns 58,311 shares of the textile maker’s stock worth $204,000 after purchasing an additional 46,336 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Unifi during the 4th quarter worth $116,000. Institutional investors 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.