Tandy Leather Factory, Inc. (NASDAQ:TLF) Short Interest Update

Tandy Leather Factory, Inc. (NASDAQ:TLF) was the recipient 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. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 38,183 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On Tandy Leather Factory

A hedge fund recently raised its stake in Tandy Leather Factory stock. Values First Advisors Inc. increased its position in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) by 35.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,792 shares of the textile maker’s stock after buying an additional 15,233 shares during the period. Values First Advisors Inc. owned about 0.72% of Tandy Leather Factory worth $134,000 at the end of the most recent reporting period. 56.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tandy Leather Factory Stock Down 2.9%

Shares of NASDAQ TLF opened at $2.34 on Friday. The company’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.52. Tandy Leather Factory has a 52-week low of $2.20 and a 52-week high of $3.78. The firm has a market cap of $19.05 million, a price-to-earnings ratio of -9.75 and a beta of 0.47.

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

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.