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

Culp, Inc. (NYSE:CULP) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.19 and traded as high as $4.44. Culp shares last traded at $4.21, with a volume of 5,260 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Culp in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Culp Stock Up 0.7%

The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $4.30 and a 200-day simple moving average of $4.19. The stock has a market cap of $53.05 million, a P/E ratio of -4.34 and a beta of 1.08.

Culp (NYSE:CULP) last released its quarterly earnings data on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.10. The firm had revenue of $50.69 million for the quarter, compared to analyst estimates of $57.50 million. Culp had a negative return on equity of 11.68% and a negative net margin of 5.82%.During the same quarter in the prior year, the company earned ($0.36) earnings per share.

Insider Activity at Culp

In other news, CEO Robert George Iv Culp bought 7,428 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were bought at an average price of $4.42 per share, with a total value of $32,831.76. Following the completion of the transaction, the chief executive officer owned 111,458 shares of the company’s stock, valued at $492,644.36. This trade represents a 7.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 15,147 shares of company stock valued at $66,292 over the last 90 days. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Culp

Several institutional investors and hedge funds have recently made changes to their positions in CULP. Wealthedge Investment Advisors LLC grew its position in shares of Culp by 132.2% in the first quarter. Wealthedge Investment Advisors LLC now owns 54,045 shares of the textile maker’s stock valued at $270,000 after purchasing an additional 30,772 shares during the last quarter. 22NW LP grew its position in shares of Culp by 14.4% in the first quarter. 22NW LP now owns 1,859,061 shares of the textile maker’s stock valued at $9,295,000 after purchasing an additional 234,346 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Culp by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock valued at $2,731,000 after purchasing an additional 62,932 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Culp in the third quarter valued at approximately $51,000. Finally, Arbor Investment Advisors LLC acquired a new stake in Culp during the third quarter worth approximately $187,000. Institutional investors and hedge funds own 75.05% of the company’s stock.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.