ToughBuilt Industries (NASDAQ:TBLT) Stock Price Down 3.3% – Here’s Why

ToughBuilt Industries, Inc. (NASDAQ:TBLT)’s share price dropped 3.3% during mid-day trading on Monday . The stock traded as low as $2.65 and last traded at $2.66. Approximately 1,271 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 90,042 shares. The stock had previously closed at $2.75.

ToughBuilt Industries Stock Performance

The business’s 50 day moving average is $2.64 and its 200 day moving average is $3.28. The stock has a market cap of $1.68 million, a price-to-earnings ratio of -0.01 and a beta of 2.18.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ToughBuilt Industries stock. Clear Street LLC acquired a new position in shares of ToughBuilt Industries, Inc. (NASDAQ:TBLT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,100 shares of the company’s stock, valued at approximately $27,000. Clear Street LLC owned 0.80% of ToughBuilt Industries as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 20.57% of the company’s stock.

About ToughBuilt Industries

ToughBuilt Industries, Inc engages in design, development, manufacture, and distribution of home improvement and construction products for the building industry in the United States and internationally. It 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.