Tandy Leather Factory (NASDAQ:TLF) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Tandy Leather Factory, Inc. (NASDAQ:TLF)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.58 and traded as low as $2.29. Tandy Leather Factory shares last traded at $2.31, with a volume of 33,133 shares traded.

Analysts Set New Price Targets

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

Tandy Leather Factory Stock Up 0.4%

The stock has a market cap of $18.80 million, a P/E ratio of -9.63 and a beta of 0.48. The firm’s 50-day moving average is $2.36 and its two-hundred day moving average is $2.58.

Tandy Leather Factory (NASDAQ:TLF) last posted 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). The business had revenue of $19.65 million during the quarter, compared to the consensus estimate of $23.89 million. Tandy Leather Factory had a negative return on equity of 4.31% and a negative net margin of 2.94%.

Hedge Funds Weigh In On Tandy Leather Factory

An institutional investor recently bought a new position in Tandy Leather Factory stock. NewEdge Advisors LLC purchased a new position in Tandy Leather Factory, Inc. (NASDAQ:TLF) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned about 0.15% of Tandy Leather Factory at the end of the most recent reporting period. Hedge funds and other institutional investors own 56.41% of the company’s stock.

Tandy Leather Factory Company Profile

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.