Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Update

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 247,928 shares, a decline of 38.7% from the May 14th total of 404,228 shares. Based on an average daily volume of 21,520 shares, the days-to-cover ratio is presently 11.5 days. Currently, 3.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Zacks Research upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Weiss Ratings downgraded shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bassett Furniture Industries presently has an average rating of “Moderate Buy”.

Bassett Furniture Industries Stock Down 0.2%

BSET opened at $15.56 on Wednesday. Bassett Furniture Industries has a 52-week low of $13.17 and a 52-week high of $19.75. The company has a 50 day moving average of $14.57 and a two-hundred day moving average of $15.27. The company has a market cap of $134.55 million, a P/E ratio of 25.10, a P/E/G ratio of 1.18 and a beta of 0.77.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%.The business had revenue of $80.34 million for the quarter, compared to analysts’ expectations of $84.38 million. Research analysts anticipate that Bassett Furniture Industries will post 0.82 earnings per share for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

Several institutional investors have recently bought and sold shares of BSET. Russell Investments Group Ltd. grew its stake in Bassett Furniture Industries by 95.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock worth $25,000 after buying an additional 734 shares during the period. Group One Trading LLC acquired a new position in shares of Bassett Furniture Industries during the second quarter worth $30,000. Motiv8 Investments LLC acquired a new position in shares of Bassett Furniture Industries during the fourth quarter worth $42,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Bassett Furniture Industries during the fourth quarter worth $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Bassett Furniture Industries during the second quarter worth $68,000. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.