Tandy Leather Factory (NASDAQ:TLF) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Tandy Leather Factory, Inc. (NASDAQ:TLF)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.52 and traded as low as $2.34. Tandy Leather Factory shares last traded at $2.34, with a volume of 13,807 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Tandy Leather Factory Stock Performance

The stock has a market cap of $19.54 million, a PE ratio of -10.00 and a beta of 0.47. The firm’s 50-day moving average is $2.36 and its 200 day moving average is $2.52.

Tandy Leather Factory (NASDAQ:TLF) last issued its quarterly earnings data on Monday, May 11th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The business had revenue of $19.65 million for the quarter, compared to analysts’ expectations of $23.89 million. Tandy Leather Factory had a negative return on equity of 4.31% and a negative net margin of 2.94%.

Hedge Funds Weigh In On Tandy Leather Factory

A hedge fund recently raised its position in Tandy Leather Factory stock. Values First Advisors Inc. raised its stake in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) by 35.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,792 shares of the textile maker’s stock after acquiring an additional 15,233 shares during the period. Values First Advisors Inc. owned approximately 0.72% of Tandy Leather Factory worth $134,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 56.41% of the company’s stock.

Tandy Leather Factory Company Profile

Tandy Leather Factory, Inc engages in the distribution of leather and related products. It offers leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. It operates through North America and International geographical segments. The North America geographical segment consists of 115 stores, which offer a broad selection of products combined with leathercraft expertise in a one-stop shop. The International geographical segment comprises of similar to North America segment but generally located in light industrial areas.