Unifi (NYSE:UFI) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Unifi, Inc. (NYSE:UFI) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.36 and traded as low as $3.21. Unifi shares last traded at $3.29, with a volume of 89,985 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on UFI. Wall Street Zen upgraded shares of Unifi to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Unifi in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Unifi has an average rating of “Sell”.

Unifi Trading Up 0.9%

The firm has a 50-day moving average of $3.76 and a 200-day moving average of $4.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 3.59. The firm has a market capitalization of $60.41 million, a P/E ratio of -2.46 and a beta of 0.73.

Unifi (NYSE:UFI) last announced its quarterly earnings data on Tuesday, November 4th. The textile maker reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.04. The firm had revenue of $135.67 million during the quarter, compared to the consensus estimate of $140.23 million. Unifi had a negative return on equity of 21.13% and a negative net margin of 4.30%. On average, equities research analysts anticipate that Unifi, Inc. will post -2.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kenneth G. Langone purchased 25,811 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was acquired at an average price of $3.42 per share, with a total value of $88,273.62. Following the transaction, the director directly owned 2,492,056 shares of the company’s stock, valued at approximately $8,522,831.52. This represents a 1.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unifi

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in shares of Unifi during the third quarter worth about $54,000. Jane Street Group LLC purchased a new position in Unifi during the 1st quarter valued at about $64,000. XTX Topco Ltd bought a new position in Unifi during the 2nd quarter valued at approximately $80,000. Assenagon Asset Management S.A. purchased a new stake in Unifi in the 3rd quarter worth approximately $92,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Unifi in the 1st quarter worth approximately $96,000. 67.67% of the stock is owned by 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.