Citi Trends (NASDAQ:CTRN) Shares Pass Above 200-Day Moving Average – Here’s Why

Citi Trends, Inc. (NASDAQ:CTRN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.19 and traded as high as $24.91. Citi Trends shares last traded at $24.78, with a volume of 65,990 shares trading hands.

Wall Street Analyst Weigh In

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

Citi Trends Price Performance

The stock has a market cap of $213.60 million, a PE ratio of -8.07 and a beta of 2.36. The business has a fifty day moving average of $20.16 and a 200-day moving average of $19.15.

Institutional Investors Weigh In On Citi Trends

Several hedge funds have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Citi Trends in the third quarter valued at about $40,000. Quantbot Technologies LP increased its position in Citi Trends by 111.3% during the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after purchasing an additional 4,250 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Citi Trends in the 2nd quarter valued at about $208,000. Rhumbline Advisers lifted its position in shares of Citi Trends by 41,964.0% in the 2nd 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 purchased a new stake in shares of Citi Trends in the 3rd quarter worth approximately $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.