The Dixie Group (NASDAQ:DXYN) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

The Dixie Group, Inc. (NASDAQ:DXYN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.74 and traded as high as $0.74. The Dixie Group shares last traded at $0.72, with a volume of 17,955 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of The Dixie Group in a report on Saturday. They set a “hold” rating on the stock.

The Dixie Group Stock Down 5.9 %

The firm’s fifty day moving average price is $0.77 and its two-hundred day moving average price is $0.74. The stock has a market cap of $11.00 million, a price-to-earnings ratio of -3.57 and a beta of 2.67. The company has a debt-to-equity ratio of 3.60, a current ratio of 2.54 and a quick ratio of 0.87.

The Dixie Group (NASDAQ:DXYN) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.04 earnings per share for the quarter. The Dixie Group had a negative net margin of 0.99% and a negative return on equity of 7.65%. The company had revenue of $70.51 million for the quarter.

Institutional Investors Weigh In On The Dixie Group

A hedge fund recently raised its stake in The Dixie Group stock. Truist Financial Corp raised its position in The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,992 shares of the textile maker’s stock after buying an additional 30,000 shares during the period. Truist Financial Corp owned 0.57% of The Dixie Group worth $59,000 as of its most recent filing with the SEC. Institutional investors own 40.00% of the company’s stock.

About The Dixie Group

The Dixie Group, Inc manufactures, markets, and sells floorcovering products to residential customers in North America and internationally. The company offers residential carpets, custom rugs, and engineered wood products under the Fabrica brand for interior decorators and designers, selected retailers and furniture stores, luxury home builders, and manufacturers of luxury motor coaches and yachts; and specialty carpets and rugs for the high-end residential marketplace, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand name through the interior design community and specialty floorcovering retailers.