Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 12,000 shares, a decrease of 31.8% from the February 29th total of 17,600 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 23,100 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Culp from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th.

Hedge Funds Weigh In On Culp

A number of institutional investors and hedge funds have recently bought and sold shares of CULP. Bragg Financial Advisors Inc bought a new position in Culp in the fourth quarter valued at about $46,000. HighTower Advisors LLC bought a new position in shares of Culp in the 4th quarter valued at about $48,000. Assenagon Asset Management S.A. bought a new position in shares of Culp in the 3rd quarter valued at about $68,000. Engineers Gate Manager LP acquired a new stake in shares of Culp during the 1st quarter worth approximately $112,000. Finally, Virtu Financial LLC bought a new stake in shares of Culp during the fourth quarter worth approximately $80,000. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Trading Down 0.6 %

CULP stock traded down $0.03 during trading on Friday, hitting $4.80. 18,213 shares of the stock traded hands, compared to its average volume of 25,521. The stock has a market cap of $59.86 million, a price-to-earnings ratio of -4.36 and a beta of 1.29. Culp has a one year low of $4.20 and a one year high of $5.99. The company has a 50 day simple moving average of $4.88 and a 200 day simple moving average of $5.28.

Culp (NYSE:CULP) last posted its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The firm had revenue of $60.42 million during the quarter, compared to the consensus estimate of $58.98 million. Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%. As a group, analysts predict that Culp will post -1.04 earnings per share for the current fiscal year.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.