Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Update

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 247,928 shares, a decrease of 38.7% from the May 14th total of 404,228 shares. Based on an average trading volume of 21,520 shares, the days-to-cover ratio is currently 11.5 days. Currently, 3.1% of the company’s stock are sold short.

Bassett Furniture Industries Price Performance

NASDAQ:BSET opened at $15.73 on Monday. The firm has a market capitalization of $136.06 million, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. The business’s fifty day moving average price is $14.50 and its 200 day moving average price is $15.28. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, April 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $80.34 million during the quarter, compared to analysts’ expectations of $84.38 million. Bassett Furniture Industries had a net margin of 1.61% and a return on equity of 3.48%. As a group, equities analysts anticipate that Bassett Furniture Industries will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Zacks Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Wall Street Zen lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Bassett Furniture Industries

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in Bassett Furniture Industries by 95.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after acquiring an additional 734 shares in the last quarter. Group One Trading LLC acquired a new position in Bassett Furniture Industries in the second quarter valued at $30,000. Motiv8 Investments LLC acquired a new position in Bassett Furniture Industries in the fourth quarter valued at $42,000. Nalls Sherbakoff Group LLC acquired a new position in Bassett Furniture Industries in the fourth quarter valued at $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Bassett Furniture Industries in the second quarter valued at $68,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.