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

Tandy Leather Factory, Inc. (NASDAQ:TLF)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.74 and traded as low as $2.33. Tandy Leather Factory shares last traded at $2.33, with a volume of 9,446 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Tandy Leather Factory from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Tandy Leather Factory Trading Down 1.3%

The company has a market cap of $18.80 million, a P/E ratio of 1.94 and a beta of 0.54. The business’s fifty day moving average is $2.54 and its 200 day moving average is $2.74.

Tandy Leather Factory (NASDAQ:TLF) last issued its earnings results on Tuesday, February 24th. The textile maker reported ($0.08) earnings per share for the quarter. Tandy Leather Factory had a negative return on equity of 13.60% and a net margin of 13.36%.The business had revenue of $22.25 million for the quarter.

Tandy Leather Factory Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, February 24th. Stockholders of record on Monday, February 9th were given a dividend of $0.75 per share.

Institutional Investors 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) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 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.