Culp (NYSE:CULP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Culp, Inc. (NYSE:CULP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Culp Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76. The company has a 50-day simple moving average of $3.18 and a 200 day simple moving average of $3.26. The company has a market capitalization of $43.43 million, a P/E ratio of -3.99 and a beta of 1.19.

Hedge Funds Weigh In On Culp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP boosted its holdings in Culp by 16.5% in the 3rd 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 during the period. HighTower Advisors LLC increased its holdings in shares of Culp by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after purchasing an additional 9,197 shares during the period. Geode Capital Management LLC increased its holdings in shares of Culp by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after purchasing an additional 3,606 shares during the period. Grace & White Inc. NY raised its position in shares of Culp by 24.7% during the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after buying an additional 29,845 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Culp by 3.9% during the third quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock valued at $897,000 after buying an additional 7,620 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

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.