Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 12,000 shares, a decrease of 31.8% from the February 29th total of 17,600 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 23,100 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, StockNews.com cut Culp from a “buy” rating to a “hold” rating in a report on Thursday, March 7th.

Culp Stock Performance

CULP stock traded down $0.03 during trading on Friday, hitting $4.80. The stock had a trading volume of 18,213 shares, compared to its average volume of 25,521. The stock has a market cap of $59.86 million, a price-to-earnings ratio of -4.36 and a beta of 1.29. The company’s 50 day moving average price is $4.88 and its two-hundred day moving average price is $5.28. Culp has a 1-year low of $4.20 and a 1-year high of $5.99.

Culp (NYSE:CULP) last released its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The firm had revenue of $60.42 million during the quarter, compared to analysts’ expectations of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. As a group, sell-side analysts forecast that Culp will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Culp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gate City Capital Management LLC acquired a new stake in Culp during the fourth quarter worth about $6,010,000. Keeley Teton Advisors LLC raised its holdings in Culp by 23.8% in the first quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock valued at $3,010,000 after buying an additional 72,775 shares during the period. Ancora Advisors LLC raised its holdings in Culp by 23.4% in the first quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock valued at $4,295,000 after buying an additional 52,982 shares during the period. Essex Investment Management Co. LLC acquired a new position in Culp during the fourth quarter valued at approximately $256,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Culp in the fourth quarter worth $184,000. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.