Citi Trends (NASDAQ:CTRN) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Citi Trends, Inc. (NASDAQ:CTRN)’s share 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 changing hands.

Wall Street Analyst Weigh In

CTRN has been the subject of a number of research analyst reports. Craig Hallum upped their price target on shares of Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. StockNews.com lowered Citi Trends from a “hold” rating to a “sell” rating in a research note on Friday, December 6th. Finally, DA Davidson lifted their price target on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th.

Citi Trends Stock Performance

The company’s 50 day moving average price is $20.90 and its 200-day moving average price is $19.17. The company has a market cap of $226.11 million, a price-to-earnings ratio of -8.46 and a beta of 2.37.

Institutional Investors Weigh In On Citi Trends

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC raised its position in shares of Citi Trends by 5.3% during the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock worth $442,000 after purchasing an additional 1,206 shares during the period. Quest Partners LLC acquired a new stake in Citi Trends during the 3rd quarter worth about $40,000. Quantbot Technologies LP lifted its stake in Citi Trends by 111.3% during the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after buying an additional 4,250 shares in the last quarter. Barclays PLC boosted its holdings in shares of Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after buying an additional 4,300 shares during the period. Finally, Anchor Capital Advisors LLC increased its position in shares of Citi Trends by 11.3% in the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock worth $1,111,000 after acquiring an additional 5,307 shares in the last quarter.

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.