Tandy Leather Factory, Inc. (NASDAQ:TLF) Sees Large Increase in Short Interest

Tandy Leather Factory, Inc. (NASDAQ:TLF) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 36,428 shares, a growth of 78.4% from the June 15th total of 20,421 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 38,183 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Tandy Leather Factory

An institutional investor recently bought a new position in Tandy Leather Factory stock. NewEdge Advisors LLC acquired a new stake in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) during the second quarter, according to its most recent filing with the SEC. The fund acquired 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned 0.15% of Tandy Leather Factory as of its most recent filing with the SEC. Hedge funds and other institutional investors own 56.41% of the company’s stock.

Tandy Leather Factory Trading Up 2.6%

TLF opened at $2.40 on Friday. The company has a 50 day moving average of $2.36 and a 200 day moving average of $2.52. The company has a market cap of $19.54 million, a PE ratio of -10.00 and a beta of 0.47. Tandy Leather Factory has a 12 month low of $2.20 and a 12 month high of $3.78.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

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.