Tandy Leather Factory (NASDAQ:TLF) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Tandy Leather Factory, Inc. (NASDAQ:TLF) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.62 and traded as low as $2.30. Tandy Leather Factory shares last traded at $2.33, with a volume of 48,746 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Tandy Leather Factory in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Tandy Leather Factory Price Performance

The stock has a market cap of $18.97 million, a price-to-earnings ratio of -9.71 and a beta of 0.49. The firm has a fifty day moving average of $2.35 and a 200 day moving average of $2.62.

Tandy Leather Factory (NASDAQ:TLF) last posted its quarterly earnings results on Monday, May 11th. The textile maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). Tandy Leather Factory had a negative net margin of 2.94% and a negative return on equity of 4.31%. The company had revenue of $19.65 million during the quarter, compared to analyst estimates of $23.89 million.

Institutional Investors Weigh In On Tandy Leather Factory

A hedge fund recently raised its stake in Tandy Leather Factory stock. Values First Advisors Inc. boosted its holdings in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) by 35.8% in the 1st quarter, according to the company in its most recent Form 13F 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 quarter. Values First Advisors Inc. owned about 0.72% of Tandy Leather Factory worth $134,000 at the end of the most recent quarter. Institutional investors own 56.41% of the company’s stock.

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.