Tandy Leather Factory (NASDAQ:TLF) Stock Crosses Below 200 Day Moving Average – What’s Next?

Tandy Leather Factory, Inc. (NASDAQ:TLF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.59 and traded as low as $2.34. Tandy Leather Factory shares last traded at $2.39, with a volume of 21,765 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 MarketBeat.com, the company has a consensus rating of “Sell”.

Tandy Leather Factory Trading Down 2.9%

The business’s fifty day moving average is $2.36 and its 200 day moving average is $2.59. The firm has a market capitalization of $18.89 million, a P/E ratio of -9.67 and a beta of 0.48.

Tandy Leather Factory (NASDAQ:TLF) last released its earnings results on Monday, May 11th. The textile maker reported $0.03 EPS 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 business had revenue of $19.65 million during the quarter, compared to the consensus estimate of $23.89 million.

Institutional Investors Weigh In On Tandy Leather Factory

A hedge fund recently bought a new stake in Tandy Leather Factory stock. NewEdge Advisors LLC purchased a new stake in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned 0.15% of Tandy Leather Factory at the end of the most recent reporting period. 56.41% of the stock is currently owned by institutional investors and hedge funds.

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.