Culp (NYSE:CULP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Culp, Inc. (NYSE:CULP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.25 and traded as high as $3.50. Culp shares last traded at $3.43, with a volume of 57,124 shares trading hands.

Culp Trading Up 11.0%

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The company has a market cap of $43.43 million, a price-to-earnings ratio of -3.99 and a beta of 1.19. The business’s fifty day moving average price is $3.18 and its 200 day moving average price is $3.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CULP. CIBC Bancorp USA Inc. bought a new stake in shares of Culp in the 3rd quarter valued at about $6,642,000. Ameriprise Financial Inc. lifted its stake in shares of Culp by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 859,145 shares of the textile maker’s stock worth $3,832,000 after acquiring an additional 164,257 shares during the period. Grace & White Inc. NY boosted its holdings in Culp by 24.7% in the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 29,845 shares during the last quarter. HighTower Advisors LLC increased its position in Culp by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after purchasing an additional 9,197 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in Culp by 3.9% during the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after purchasing an additional 7,620 shares during the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

Culp Company Profile

Culp, Inc, headquartered in High Point, North Carolina, is a leading producer of specialty fabrics for the home furnishings industry. Founded in 1972 by Bill Culp, the company has grown into a publicly traded enterprise that supplies upholstery and mattress fabrics to manufacturers and retailers across North America and abroad. Culp’s fabric offerings are designed to meet the aesthetic and performance requirements of residential furniture, contract seating, and hospitality applications.

The company operates through two primary segments.