Short Interest in Culp, Inc. (NYSE:CULP) Grows By 27.3%

Culp, Inc. (NYSE:CULP - Get Free Report) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 23,300 shares, a growth of 27.3% from the December 15th total of 18,300 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 18,700 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Culp in a report on Friday. They set a "hold" rating on the stock.

Insider Activity at Culp

In other news, CEO Robert George Iv Culp acquired 8,508 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was bought at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the acquisition, the chief executive officer now directly owns 78,029 shares of the company's stock, valued at approximately $422,917.18. The trade was a 12.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the acquisition, the insider now owns 15,000 shares of the company's stock, valued at $83,250. This trade represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 31,495 shares of company stock valued at $167,062 over the last ninety days. Insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its stake in shares of Culp, Inc. (NYSE:CULP - Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,825 shares of the textile maker's stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 at the end of the most recent quarter. Institutional investors own 75.05% of the company's stock.

Culp Trading Down 2.1 %

CULP traded down $0.12 on Friday, hitting $5.48. 43,803 shares of the company's stock traded hands, compared to its average volume of 23,580. Culp has a one year low of $4.25 and a one year high of $6.85. The firm has a market cap of $68.77 million, a price-to-earnings ratio of -3.26 and a beta of 1.18. The company's 50 day simple moving average is $5.40 and its 200-day simple moving average is $5.37.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.