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SEATTLE—In a recent transaction, 22NW Fund, LP, a major shareholder in Culp Inc (NYSE:CULP), acquired additional shares of the company. According to the latest SEC filing, the fund purchased a total of 86,589 shares across three separate transactions from March 10 to March 12, 2025. The shares were bought at prices ranging from $4.6457 to $5.0514 per share, totaling an investment of approximately $428,164. The transaction comes as the stock trades at $5.23, within its 52-week range of $4.20 to $6.85, with a market capitalization of $64 million.
The transactions were executed by 22NW Fund, LP, and were disclosed in a Form 4 filing with the Securities and Exchange Commission. The purchases increased the fund’s total holdings to 1,711,304 shares. The filing was made jointly by 22NW Fund, LP, along with 22NW, LP, 22NW Fund GP, LLC, 22NW GP, Inc., and Aron R. English, who is the portfolio manager of 22NW and holds several key positions within the reporting entities. InvestingPro data shows the company maintains a current ratio of 1.68, indicating sufficient liquid assets to meet short-term obligations, despite facing challenges with revenue declining 9.8% over the last twelve months.
This move highlights 22NW Fund’s continued interest in Culp Inc, a company known for its broadwoven fabric mills. Investors and market watchers often pay close attention to such transactions, as they can indicate the fund’s confidence in the company’s future performance. According to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ stocks, the company currently shows signs of being fairly valued, with several key metrics and additional ProTips available to subscribers.
In other recent news, Culp Inc. reported underwhelming financial results for the first quarter of 2025, with an earnings per share (EPS) loss of $0.33, which fell significantly short of the forecasted EPS of $0.04. The company’s revenue also missed expectations, coming in at $52.3 million compared to the anticipated $62 million. Despite the disappointing earnings, Culp remains optimistic about future growth, expecting consolidated net sales growth in the fourth quarter and targeting a return to profitability in fiscal 2026. The company is also focusing on operational efficiencies and market share growth, particularly in its hospitality contract business and mattress fabrics segment. Analysts noted the challenges Culp faces in the home furnishings and bedding industries but acknowledged the company’s efforts to improve its operational structure. The restructuring of Culp’s Mattress Fabrics segment, which is largely complete, has led to improved operating efficiencies and lower fixed costs. Additionally, the company has entered a conditional agreement for the sale of its Canadian facility, which could provide $6 million to $8 million in cash proceeds to bolster liquidity.
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