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

Culp, Inc. (NYSE:CULP)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Ratings Changes

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

Culp Stock Performance

The stock has a fifty day simple moving average of $4.30 and a two-hundred day simple moving average of $4.19. The stock has a market cap of $53.05 million, a price-to-earnings ratio of -4.34 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.81 and a current ratio of 1.86.

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

Insider Activity at Culp

In other news, CEO Robert George Iv Culp purchased 7,428 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was bought at an average cost of $4.42 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders acquired 15,147 shares of company stock valued at $66,292. 7.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. 22NW LP raised its position in Culp by 14.4% during the 1st quarter. 22NW LP now owns 1,859,061 shares of the textile maker’s stock worth $9,295,000 after purchasing an additional 234,346 shares during the last quarter. Wealthedge Investment Advisors LLC raised its position in Culp by 132.2% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 54,045 shares of the textile maker’s stock worth $270,000 after purchasing an additional 30,772 shares during the last quarter. Ameriprise Financial Inc. raised its position in Culp by 10.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock worth $2,731,000 after purchasing an additional 62,932 shares during the last quarter. Arbor Investment Advisors LLC bought a new position in Culp during the 3rd quarter worth $187,000. Finally, Assenagon Asset Management S.A. bought a new position in Culp during the 3rd quarter worth $51,000. 75.05% of the stock is currently owned by institutional investors.

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.