TOUGHBUILT INDU/SH (NASDAQ:TBLT) Shares Gap Up to $0.20

TOUGHBUILT INDU/SH (NASDAQ:TBLT) shares gapped up prior to trading on Friday . The stock had previously closed at $0.13, but opened at $0.20. TOUGHBUILT INDU/SH shares last traded at $0.24, with a volume of 108,236,381 shares traded.

Separately, Maxim Group initiated coverage on shares of TOUGHBUILT INDU/SH in a research note on Wednesday, February 5th. They issued a “buy” rating and a $0.50 price objective on the stock.

The company’s 50 day moving average price is $0.23 and its 200-day moving average price is $0.29. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 30.64.

TOUGHBUILT INDU/SH (NASDAQ:TBLT) last released its earnings results on Tuesday, November 19th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $4.78 million for the quarter.

A hedge fund recently raised its stake in TOUGHBUILT INDU/SH stock. Barclays PLC lifted its position in TOUGHBUILT INDU/SH (NASDAQ:TBLT) by 799.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,628 shares of the company’s stock after acquiring an additional 125,000 shares during the period. Barclays PLC owned about 0.48% of TOUGHBUILT INDU/SH worth $44,000 as of its most recent SEC filing. Institutional investors own 3.26% of the company’s stock.

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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