Culp, Inc. (NYSE:CULP – Get Free Report) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 20,700 shares, a decline of 8.0% from the August 15th total of 22,500 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,900 shares, the short-interest ratio is currently 1.1 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Culp in a report on Wednesday, September 11th. They issued a “hold” rating for the company.
Read Our Latest Stock Analysis on CULP
Insiders Place Their Bets
Institutional Trading of Culp
A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. raised its stake in shares of Culp, Inc. (NYSE:CULP – Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by hedge funds and other institutional investors.
Culp Stock Up 0.7 %
Shares of Culp stock traded up $0.04 during mid-day trading on Wednesday, hitting $6.03. The stock had a trading volume of 54,027 shares, compared to its average volume of 21,045. The firm has a market cap of $75.19 million, a P/E ratio of -5.43 and a beta of 1.18. The firm has a 50-day moving average of $5.09 and a two-hundred day moving average of $4.72. Culp has a 12-month low of $4.25 and a 12-month high of $6.20.
Culp (NYSE:CULP – Get Free Report) last posted its earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $49.76 million. During the same quarter last year, the firm earned ($0.38) earnings per share.
Culp Company Profile
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.
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