Tandy Leather Factory (NASDAQ:TLF) Shares Down 2.1% – What’s Next?

Tandy Leather Factory, Inc. (NASDAQ:TLF) was down 2.1% on Wednesday . The company traded as low as $2.24 and last traded at $2.30. Approximately 67,483 shares traded hands during mid-day trading, an increase of 98% from the average daily volume of 34,081 shares. The stock had previously closed at $2.35.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Tandy Leather Factory from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Tandy Leather Factory Stock Down 2.1%

The stock has a market capitalization of $18.57 million, a PE ratio of 1.92 and a beta of 0.54. The stock has a fifty day moving average of $2.62 and a 200-day moving average of $2.77.

Tandy Leather Factory (NASDAQ:TLF) last released its earnings results on Tuesday, February 24th. The textile maker reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $22.25 million during the quarter. Tandy Leather Factory had a net margin of 13.36% and a negative return on equity of 13.60%.

Tandy Leather Factory Dividend Announcement

The business also recently announced a special dividend, which was paid on Tuesday, February 24th. Investors of record on Monday, February 9th were issued a $0.75 dividend.

Institutional Inflows and Outflows

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

About Tandy Leather Factory

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.