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

Culp, Inc. (NYSE:CULP)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.27 and traded as high as $5.94. Culp shares last traded at $5.87, with a volume of 62,368 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Culp in a research note on Wednesday. They set a “hold” rating on the stock.

Culp Stock Down 0.9 %

The business’s fifty day moving average price is $5.34 and its 200 day moving average price is $5.27. The firm has a market capitalization of $73.09 million, a PE ratio of -3.46 and a beta of 1.20.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp acquired 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, the chief executive officer now directly owns 78,029 shares in the company, valued at approximately $422,917.18. The trade was a 12.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $83,250. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 31,495 shares of company stock worth $167,062. 7.30% of the stock is owned by insiders.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC raised its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.