Tandy Leather Factory (NASDAQ:TLF) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.53 and traded as low as $2.33. Tandy Leather Factory shares last traded at $2.37, with a volume of 135,593 shares changing hands.

Wall Street Analyst Weigh In

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

Tandy Leather Factory Stock Up 2.6%

The stock has a market cap of $19.29 million, a PE ratio of -9.88 and a beta of 0.47. The business’s 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.53.

Tandy Leather Factory (NASDAQ:TLF) last posted its earnings results 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). Tandy Leather Factory had a negative return on equity of 4.31% and a negative net margin of 2.94%.The firm had revenue of $19.65 million for the quarter, compared to analysts’ expectations of $23.89 million.

Hedge Funds Weigh In On Tandy Leather Factory

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

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.