Short Interest in Tandy Leather Factory, Inc. (NASDAQ:TLF) Grows By 78.4%

Tandy Leather Factory, Inc. (NASDAQ:TLF) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 36,428 shares, a growth of 78.4% from the June 15th total of 20,421 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 38,183 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On Tandy Leather Factory

An institutional investor recently raised its position in Tandy Leather Factory stock. Values First Advisors Inc. increased its stake in shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) by 35.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 57,792 shares of the textile maker’s stock after acquiring an additional 15,233 shares during the period. Values First Advisors Inc. owned approximately 0.72% of Tandy Leather Factory worth $134,000 at the end of the most recent reporting period. 56.41% of the stock is currently owned by institutional investors.

Tandy Leather Factory Stock Performance

Shares of NASDAQ:TLF traded up $0.06 during midday trading on Friday, hitting $2.40. 5,453 shares of the company’s stock traded hands, compared to its average volume of 23,916. The firm’s fifty day moving average price is $2.36 and its two-hundred day moving average price is $2.52. Tandy Leather Factory has a twelve month low of $2.20 and a twelve month high of $3.78. The company has a market cap of $19.54 million, a PE ratio of -10.00 and a beta of 0.47.

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

Analyst Ratings Changes

Separately, Weiss Ratings lowered Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tandy Leather Factory presently has a consensus rating of “Sell”.

About Tandy Leather Factory

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.