Tandy Leather Factory, Inc. (NASDAQ:TLF) Shares Shorted: Short Interest Down 63.7% in October

Tandy Leather Factory, Inc. (NASDAQ:TLF) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 1,644 shares, a decline of 63.7% from the September 30th total of 4,527 shares. Based on an average daily trading volume, of 14,664 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Tandy Leather Factory Stock Up 2.7%

Shares of Tandy Leather Factory stock traded up $0.06 on Thursday, hitting $2.31. 466 shares of the company’s stock traded hands, compared to its average volume of 34,652. Tandy Leather Factory has a 52-week low of $2.09 and a 52-week high of $3.36. The stock has a market cap of $18.92 million, a P/E ratio of -13.59 and a beta of 0.59. The firm’s 50-day moving average is $2.52 and its 200 day moving average is $2.50.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Tandy Leather Factory

A hedge fund recently bought a new position in Tandy Leather Factory stock. George Kaiser Family Foundation bought a new position in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 43,443 shares of the textile maker’s stock, valued at approximately $101,000. George Kaiser Family Foundation owned about 0.53% of Tandy Leather Factory as of its most recent SEC filing. 56.41% of the stock is owned by institutional investors.

About Tandy Leather Factory

Tandy Leather Factory, Inc is a specialty retailer and distributor of leathercraft supplies. The company serves hobbyists, artisans, small businesses and other customers who create or repair leather goods.

Its products include leather hides and sides, leatherworking tools, hardware, dyes, finishes, lacing, adhesives, kits and related craft materials. Tandy also provides instructional resources and project-oriented supplies designed for customers with a range of experience levels.

Founded in 1919, the company has operated through a network of retail stores and direct-to-consumer channels, including its online platform and catalog operations.