Unifi (NYSE:UFI) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Unifi, Inc. (NYSE:UFI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Unifi Stock Down 3.0%

The business has a fifty day moving average price of $5.15 and a two-hundred day moving average price of $4.32. 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 firm has a market capitalization of $122.38 million, a price-to-earnings ratio of -14.63, a price-to-earnings-growth ratio of 6.29 and a beta of 0.69.

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

Institutional Trading of Unifi

A number of hedge funds and other institutional investors have recently made changes to their positions in UFI. Azarias Capital Management L.P. grew its position in Unifi by 11.3% during the 4th quarter. Azarias Capital Management L.P. now owns 904,013 shares of the textile maker’s stock worth $3,164,000 after purchasing an additional 91,455 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Unifi in the 2nd quarter valued at about $374,000. Minerva Advisors LLC lifted its holdings in shares of Unifi by 6.1% in the 4th quarter. Minerva Advisors LLC now owns 1,222,420 shares of the textile maker’s stock valued at $4,278,000 after buying an additional 69,939 shares during the period. Jane Street Group LLC boosted its stake in shares of 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 buying an additional 46,336 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Unifi in the fourth quarter worth about $116,000. Institutional investors and hedge funds 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.