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

Tandy Leather Factory, Inc. (NASDAQ:TLF) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

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

Tandy Leather Factory Stock Down 1.7%

The company has a market cap of $18.97 million, a PE ratio of -9.71 and a beta of 0.49. The business has a 50-day simple moving average of $2.35 and a 200-day simple moving average of $2.62.

Tandy Leather Factory (NASDAQ:TLF) last issued its quarterly earnings results on Monday, May 11th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 stake in Tandy Leather Factory stock. Values First Advisors Inc. grew its position in Tandy Leather Factory, Inc. (NASDAQ:TLF) by 35.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing. Hedge funds and other 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.