Culp (NYSE:CULP) Stock Passes Above 200 Day Moving Average – Time to Sell?

Culp, Inc. (NYSE:CULP)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as high as $3.81. Culp shares last traded at $3.69, with a volume of 6,998 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Culp from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Culp Price Performance

The business has a 50 day simple moving average of $3.23 and a two-hundred day simple moving average of $3.26. The firm has a market capitalization of $46.73 million, a P/E ratio of -4.29 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CULP. Susquehanna International Group LLP raised its stake in Culp by 16.5% in the third quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 5,762 shares in the last quarter. HighTower Advisors LLC grew its stake in Culp by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after buying an additional 9,197 shares in the last quarter. Geode Capital Management LLC grew its stake in Culp by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after buying an additional 3,606 shares in the last quarter. Grace & White Inc. NY increased its holdings in shares of Culp by 24.7% in the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock worth $413,000 after buying an additional 29,845 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Culp by 3.9% in the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after buying an additional 7,620 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors.

About Culp

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.