Unifi Inc. (UFI) Moves Lower on Volume Spike for November 16

Unifi Inc. (UFI) Moves Lower on Volume Spike for November 16

Unifi Inc. (UFI) traded on unusually high volume on Nov. 16, as the stock lost 0.07% to close at $27.03. On the day, Unifi Inc. saw 148,931 shares trade hands on 1,115 trades. Considering that the stock averages only a daily volume of 95,191 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $38.65 and $22.78 over the last 52-weeks, its 50-day SMA is now $26.79, and its 200-day SMA $31.70. Unifi Inc. has a P/B ratio of 1.27. It also has a P/E ratio of 19.2.

Unifi Inc is a multi-national manufacturing company that processes and sells high-volume commodity yarns. It is engaged in selling yarns made from polyester and nylon.

Headquartered in Greensboro, NC, Unifi Inc. has 2,900 employees and is currently under the leadership of CEO Kevin D. Hall.

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