Short Interest in Tandy Leather Factory, Inc. (NASDAQ:TLF) Grows By 78.4%

Tandy Leather Factory, Inc. (NASDAQ:TLF) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 36,428 shares, a growth of 78.4% from the June 15th total of 20,421 shares. Based on an average daily volume of 38,183 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.7% of the company’s stock are sold short.

Tandy Leather Factory Stock Down 2.9%

NASDAQ:TLF opened at $2.34 on Friday. The company has a market capitalization of $19.05 million, a PE ratio of -9.75 and a beta of 0.47. Tandy Leather Factory has a 52-week low of $2.20 and a 52-week high of $3.78. The stock’s 50 day moving average price is $2.36 and its 200 day moving average price 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 for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $19.65 million during the quarter, compared to analysts’ expectations of $23.89 million. Tandy Leather Factory had a negative net margin of 2.94% and a negative return on equity of 4.31%.

Institutional Trading of Tandy Leather Factory

A hedge fund recently bought a new stake in Tandy Leather Factory stock. NewEdge Advisors LLC acquired a new stake in Tandy Leather Factory, Inc. (NASDAQ:TLF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned 0.15% of Tandy Leather Factory as of its most recent filing with the Securities and Exchange Commission (SEC). 56.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

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.