Citi Trends (NASDAQ:CTRN) Share Price Passes Above 200 Day Moving Average – What’s Next?

Citi Trends, Inc. (NASDAQ:CTRN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.19 and traded as high as $24.91. Citi Trends shares last traded at $24.78, with a volume of 65,990 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CTRN shares. DA Davidson boosted their target price on Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of Citi Trends from a “hold” rating to a “sell” rating in a research note on Friday, December 6th. Finally, Craig Hallum boosted their price target on Citi Trends from $14.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th.

Citi Trends Price Performance

The company has a market cap of $213.60 million, a price-to-earnings ratio of -8.07 and a beta of 2.36. The firm has a fifty day simple moving average of $20.16 and a 200 day simple moving average of $19.19.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRN. Empowered Funds LLC lifted its stake in shares of Citi Trends by 5.3% in the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after buying an additional 1,206 shares during the period. Quest Partners LLC bought a new stake in shares of Citi Trends during the third quarter worth $40,000. Quantbot Technologies LP increased its position in Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after acquiring an additional 4,250 shares in the last quarter. Barclays PLC increased its holdings in shares of Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of Citi Trends by 11.3% during the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock worth $1,111,000 after acquiring an additional 5,307 shares during the last quarter.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.