ToughBuilt Industries (NASDAQ:TBLT) Trading Down 0.9%

ToughBuilt Industries, Inc. (NASDAQ:TBLT) shares fell 0.9% during mid-day trading on Wednesday . The company traded as low as $2.57 and last traded at $2.78. 41,581 shares were traded during trading, a decline of 53% from the average session volume of 88,358 shares. The stock had previously closed at $2.80.

ToughBuilt Industries Price Performance

The company has a market capitalization of $1.55 million, a P/E ratio of -0.01 and a beta of 1.90. The stock has a 50-day moving average price of $3.12 and a 200-day moving average price of $7.44.

Hedge Funds Weigh In On ToughBuilt Industries

A hedge fund recently bought a new stake in ToughBuilt Industries stock. Sabby Management LLC bought a new position in ToughBuilt Industries, Inc. (NASDAQ:TBLT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,521,296 shares of the company’s stock, valued at approximately $297,000. ToughBuilt Industries makes up approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 19th biggest position. Sabby Management LLC owned about 4.30% of ToughBuilt Industries at the end of the most recent quarter. 20.57% of the stock is currently owned by hedge funds and other institutional investors.

About ToughBuilt Industries

ToughBuilt Industries, Inc engages in design, development, manufacture, and distribution of home improvement and construction products for the building industry in the United States and internationally. It offers tool pouches, tool rigs, tool belts and accessories, tools bags, totes, various storage solutions, and office organizers/bags for laptop/tablet/cellphones, etc.; and kneepads.