TOUGHBUILT INDU/SH (NASDAQ:TBLT) Shares Up 9.9%

Shares of TOUGHBUILT INDU/SH (NASDAQ:TBLT) shot up 9.9% during trading on Thursday . The company traded as high as $0.78 and last traded at $0.77. 2,984,981 shares traded hands during trading, an increase of 12% from the average session volume of 2,671,192 shares. The stock had previously closed at $0.70.

Separately, Maxim Group reissued a “buy” rating and issued a $2.00 price objective on shares of TOUGHBUILT INDU/SH in a research report on Wednesday, August 19th.

The stock has a market capitalization of $29.43 million, a PE ratio of -0.42 and a beta of 0.97. The firm has a fifty day moving average price of $0.69 and a two-hundred day moving average price of $0.77.

TOUGHBUILT INDU/SH (NASDAQ:TBLT) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. TOUGHBUILT INDU/SH had a negative return on equity of 164.30% and a negative net margin of 55.24%. The company had revenue of $6.84 million for the quarter.

A hedge fund recently bought a new stake in TOUGHBUILT INDU/SH stock. Virtu Financial LLC bought a new position in shares of TOUGHBUILT INDU/SH (NASDAQ:TBLT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 144,609 shares of the company’s stock, valued at approximately $112,000. Virtu Financial LLC owned 0.82% of TOUGHBUILT INDU/SH as of its most recent filing with the Securities and Exchange Commission (SEC). 3.69% of the stock is currently owned by institutional investors and hedge funds.

About TOUGHBUILT INDU/SH (NASDAQ:TBLT)

Toughbuilt Industries, Inc designs, manufactures, and distributes home improvement and construction products for the building industry in the United States and internationally. The company offers tool pouches, tool rigs, tool belts and accessories, tools bags, totes, various storage solutions, and office organizers/bags for laptop/tablet/cellphones, etc.; and kneepads.

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