Unifi (NYSE:UFI) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Unifi, Inc. (NYSE:UFI)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.32 and traded as high as $6.95. Unifi shares last traded at $6.5830, with a volume of 132,908 shares traded.

Wall Street Analysts Forecast Growth

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

Unifi Trading Down 3.0%

The stock has a market cap of $122.38 million, a PE ratio of -14.63, a price-to-earnings-growth ratio of 6.29 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.59 and a current ratio of 3.12. The company has a 50 day moving average of $5.15 and a two-hundred day moving average of $4.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Minerva Advisors LLC increased its stake in Unifi by 6.1% during the 4th quarter. Minerva Advisors LLC now owns 1,222,420 shares of the textile maker’s stock worth $4,278,000 after buying an additional 69,939 shares in the last quarter. Azarias Capital Management L.P. lifted its position in shares of Unifi by 11.3% in the fourth quarter. Azarias Capital Management L.P. now owns 904,013 shares of the textile maker’s stock valued at $3,164,000 after acquiring an additional 91,455 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 21,195 shares in the last quarter. Peapod Lane Capital LLC boosted its stake in shares of Unifi by 1.0% in the fourth quarter. Peapod Lane Capital LLC now owns 452,513 shares of the textile maker’s stock worth $1,584,000 after acquiring an additional 4,259 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Unifi by 11.1% during the fourth quarter. Neuberger Berman Group LLC now owns 270,880 shares of the textile maker’s stock worth $948,000 after purchasing an additional 27,158 shares in the last quarter. 67.67% of the stock is owned by hedge funds and other institutional investors.

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.