Tandy Leather Factory (NASDAQ:TLF) Shares Cross Below 200 Day Moving Average – Time to Sell?

Tandy Leather Factory, Inc. (NASDAQ:TLF)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.59 and traded as low as $2.34. Tandy Leather Factory shares last traded at $2.39, with a volume of 21,765 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, the stock presently has an average rating of “Sell”.

Tandy Leather Factory Stock Up 1.3%

The firm’s 50 day moving average price is $2.36 and its two-hundred day moving average price is $2.59. The firm has a market capitalization of $19.45 million, a PE ratio of -9.96 and a beta of 0.48.

Tandy Leather Factory (NASDAQ:TLF) last announced its earnings results on Monday, May 11th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Tandy Leather Factory had a negative return on equity of 4.31% and a negative net margin of 2.94%.The business had revenue of $19.65 million for the quarter, compared to analysts’ expectations of $23.89 million.

Hedge Funds Weigh In On Tandy Leather Factory

A hedge fund recently bought a new stake in Tandy Leather Factory stock. NewEdge Advisors LLC purchased a new position in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 at the end of the most recent quarter. 56.41% of the stock is currently owned by hedge funds and other 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.