The Dixie Group (NASDAQ:DXYN) Shares Pass Above 200 Day Moving Average – What’s Next?

The Dixie Group, Inc. (NASDAQ:DXYN) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analysts Set New Price Targets

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

The Dixie Group Stock Performance

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 stock has a 50-day simple moving average of $0.77 and a 200-day simple moving average of $0.74. The stock has a market cap of $11.00 million, a P/E ratio of -3.57 and a beta of 2.64.

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

Institutional Trading of The Dixie Group

An institutional investor recently raised its position in The Dixie Group stock. Truist Financial Corp increased its stake in The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,992 shares of the textile maker’s stock after acquiring an additional 30,000 shares during the quarter. Truist Financial Corp owned about 0.57% of The Dixie Group worth $59,000 at the end of the most recent reporting period. 40.00% of the stock is currently owned by institutional investors.

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.