Culp (NYSE:CULP) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Culp, Inc. (NYSE:CULP)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.19 and traded as high as $4.23. Culp shares last traded at $4.19, with a volume of 22,547 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Culp in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Culp Stock Up 0.6%

The stock has a market capitalization of $52.73 million, a price-to-earnings ratio of -4.31 and a beta of 1.08. The business’s 50-day moving average is $4.29 and its two-hundred day moving average is $4.19. The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 0.12.

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

Insider Activity

In related news, CEO Robert George Iv Culp purchased 7,428 shares of Culp stock in a transaction dated Monday, September 22nd. The shares were acquired at an average cost of $4.42 per share, with a total value of $32,831.76. Following the purchase, the chief executive officer owned 111,458 shares of the company’s stock, valued at approximately $492,644.36. The trade was a 7.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 15,147 shares of company stock valued at $66,292. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in shares of Culp in the third quarter valued at approximately $51,000. Ameriprise Financial Inc. boosted its holdings in shares of Culp by 10.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock valued at $2,731,000 after buying an additional 62,932 shares in the last quarter. Wealthedge Investment Advisors LLC raised its position in Culp by 27.6% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock valued at $271,000 after purchasing an additional 14,897 shares during the last quarter. Finally, 22NW LP raised its position in Culp by 14.4% in the 1st 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. 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.