Citi Trends (NASDAQ:CTRN) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Citi Trends, Inc. (NASDAQ:CTRN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.17 and traded as high as $26.12. Citi Trends shares last traded at $25.96, with a volume of 24,331 shares trading hands.

Wall Street Analyst Weigh In

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

Citi Trends Stock Performance

The firm’s 50-day simple moving average is $21.02 and its 200 day simple moving average is $19.20. The stock has a market capitalization of $224.89 million, a P/E ratio of -8.41 and a beta of 2.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC bought a new stake in Citi Trends in the third quarter valued at approximately $40,000. Quantbot Technologies LP raised its stake 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 during the period. Deerfield Management Company L.P. Series C acquired a new stake in Citi Trends during the 2nd quarter valued at $208,000. Rhumbline Advisers boosted its position in Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after purchasing an additional 10,491 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Citi Trends in the third quarter valued at $193,000.

About Citi Trends

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.