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 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.62 and traded as low as $2.30. Tandy Leather Factory shares last traded at $2.33, with a volume of 48,746 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tandy Leather Factory in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Tandy Leather Factory currently has a consensus rating of “Sell”.

Tandy Leather Factory Trading Up 0.4%

The firm has a market cap of $19.13 million, a PE ratio of -9.79 and a beta of 0.49. The firm’s 50 day simple moving average is $2.35 and its 200 day simple moving average is $2.61.

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

Institutional Investors 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 position in Tandy Leather Factory, Inc. (NASDAQ:TLF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned approximately 0.15% of Tandy Leather Factory as of its most recent SEC filing. 56.41% of the stock is owned by institutional investors.

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.