Tandy Leather Factory (NASDAQ:TLF) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Tandy Leather Factory, Inc. (NASDAQ:TLF)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.51 and traded as low as $2.34. Tandy Leather Factory shares last traded at $2.35, with a volume of 2,958 shares.

Analyst Ratings Changes

Separately, Weiss Ratings cut Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tandy Leather Factory presently has a consensus rating of “Sell”.

Tandy Leather Factory Stock Down 0.8%

The stock has a market capitalization of $19.13 million, a price-to-earnings ratio of -9.79 and a beta of 0.47. The business’s 50 day simple moving average is $2.36 and its 200-day simple moving average is $2.51.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Tandy Leather Factory stock. Values First Advisors Inc. raised its holdings in Tandy Leather Factory, Inc. (NASDAQ:TLF) by 35.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,792 shares of the textile maker’s stock after purchasing an additional 15,233 shares during the quarter. Values First Advisors Inc. owned 0.72% of Tandy Leather Factory worth $134,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 56.41% of the company’s stock.

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.