Tandy Leather Factory, Inc. (NASDAQ:TLF) Short Interest Down 84.4% in August

Tandy Leather Factory, Inc. (NASDAQ:TLF) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 2,347 shares, a decline of 84.4% from the August 15th total of 15,072 shares. Based on an average daily trading volume, of 36,573 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tandy Leather Factory in a research report on Tuesday, September 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tandy Leather Factory has a consensus rating of “Sell”.

Hedge Funds Weigh In On Tandy Leather Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new position in shares of Tandy Leather Factory during the 2nd quarter valued at about $39,000. George Kaiser Family Foundation bought a new stake in shares of Tandy Leather Factory in the 2nd quarter worth approximately $101,000. Finally, Values First Advisors Inc. raised its holdings in shares of Tandy Leather Factory by 35.8% in the 1st quarter. Values First Advisors Inc. now owns 57,792 shares of the textile maker’s stock worth $134,000 after purchasing an additional 15,233 shares in the last quarter. 56.41% of the stock is owned by institutional investors.

Tandy Leather Factory Stock Performance

Tandy Leather Factory stock opened at $2.62 on Friday. Tandy Leather Factory has a 1 year low of $2.20 and a 1 year high of $3.36. The firm’s 50-day moving average is $2.49 and its 200-day moving average is $2.41. The company has a market cap of $21.46 million, a P/E ratio of -15.41 and a beta of 0.50.

Tandy Leather Factory (NASDAQ:TLF) last announced its quarterly earnings results on Tuesday, August 11th. The textile maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). The company had revenue of $18.04 million for the quarter, compared to analyst estimates of $23.89 million. Tandy Leather Factory had a negative return on equity of 3.31% and a negative net margin of 2.14%.

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.