Tuesday Morning (OTCMKTS:TUEM) Cut to “Sell” at Zacks Investment Research

Tuesday Morning (OTCMKTS:TUEM – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Tuesday Morning is off-price retailer specializing in name-brand, products for the home, including upscale home textiles, home furnishings, housewares, gourmet food, toys and seasonal décor, at prices generally below those found in boutique, specialty and department stores, catalogs and on-line retailers. Tuesday Morning is based in Dallas, Texas. “

TUEM stock opened at $0.56 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.41 and a quick ratio of 0.11. The company has a fifty day moving average price of $1.00 and a two-hundred day moving average price of $1.70. Tuesday Morning has a one year low of $0.55 and a one year high of $5.01. The stock has a market cap of $48.03 million, a price-to-earnings ratio of -0.97 and a beta of 1.21.

A number of hedge funds have recently added to or reduced their stakes in the business. First Manhattan Co. boosted its position in shares of Tuesday Morning by 28.9% in the first quarter. First Manhattan Co. now owns 1,450,000 shares of the company’s stock valued at $1,595,000 after acquiring an additional 325,000 shares during the period. State Street Corp boosted its position in shares of Tuesday Morning by 8.1% in the first quarter. State Street Corp now owns 214,691 shares of the company’s stock valued at $236,000 after acquiring an additional 16,068 shares during the period. Archon Capital Management LLC boosted its position in shares of Tuesday Morning by 128.9% in the first quarter. Archon Capital Management LLC now owns 3,680,829 shares of the company’s stock valued at $4,049,000 after acquiring an additional 2,072,874 shares during the period. Invesco Ltd. bought a new stake in shares of Tuesday Morning in the first quarter valued at about $204,000. Finally, Ancora Advisors LLC bought a new stake in shares of Tuesday Morning in the first quarter valued at about $604,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Tuesday Morning Company Profile (Get Rating)

Tuesday Morning Corporation operates as an off-price retailer in the United States. The company offers various products, such as upscale home textiles, home furnishings, housewares, gourmet food products, pet supplies, bath and body products, toys, and seasonal décor products. As of September 09, 2021, it operated approximately 489 stores in 40 states.

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