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

Unifi, Inc. (NYSE:UFI) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.86 and traded as low as $3.62. Unifi shares last traded at $3.69, with a volume of 23,650 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UFI. Weiss Ratings reissued a “sell (e+)” rating on shares of Unifi in a research note on Wednesday, January 21st. Wall Street Zen upgraded Unifi from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Unifi Price Performance

The firm has a market capitalization of $69.10 million, a P/E ratio of -2.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.93 and a current ratio of 3.99. The firm has a 50-day moving average of $3.81 and a 200-day moving average of $3.85.

Unifi (NYSE:UFI) last released its quarterly earnings data on Tuesday, February 3rd. The textile maker reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.09. The business had revenue of $121.37 million for the quarter, compared to analysts’ expectations of $120.18 million. Unifi had a negative return on equity of 18.45% and a negative net margin of 4.13%. As a group, analysts predict that Unifi, Inc. will post -2.25 EPS for the current year.

Hedge Funds Weigh In On Unifi

Several hedge funds and other institutional investors have recently modified their holdings of UFI. Azarias Capital Management L.P. lifted its holdings in shares of Unifi by 20.9% during the 3rd quarter. Azarias Capital Management L.P. now owns 812,558 shares of the textile maker’s stock valued at $3,868,000 after buying an additional 140,572 shares during the period. Minerva Advisors LLC increased its stake 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 worth $4,278,000 after purchasing an additional 69,939 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Unifi by 386.9% in the 4th 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 in the last quarter. Marshall Wace LLP purchased a new stake in shares of Unifi in the 4th quarter worth $116,000. Finally, Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Unifi by 131.1% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 53,265 shares of the textile maker’s stock worth $186,000 after purchasing an additional 30,214 shares in the last quarter. 67.67% of the stock is owned by 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.