Short Interest in ToughBuilt Industries, Inc. (NASDAQ:TBLT) Grows By 91.8%

ToughBuilt Industries, Inc. (NASDAQ:TBLT) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 98,000 shares, an increase of 91.8% from the February 29th total of 51,100 shares. Based on an average daily trading volume, of 70,400 shares, the short-interest ratio is currently 1.4 days. Currently, 13.9% of the shares of the company are sold short.

ToughBuilt Industries Stock Performance

NASDAQ:TBLT remained flat at $2.98 during midday trading on Thursday. 7,700 shares of the company traded hands, compared to its average volume of 73,664. ToughBuilt Industries has a one year low of $2.86 and a one year high of $79.95. The company has a market capitalization of $1.88 million, a price-to-earnings ratio of -0.01 and a beta of 1.92. The company’s fifty day simple moving average is $4.54 and its 200 day simple moving average is $9.07.

Institutional Trading of ToughBuilt Industries

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of ToughBuilt Industries by 387.3% in the first quarter. Renaissance Technologies LLC now owns 4,465,800 shares of the company’s stock worth $779,000 after buying an additional 3,549,411 shares during the last quarter. Credit Suisse AG acquired a new position in ToughBuilt Industries in the second quarter valued at approximately $45,000. Millennium Management LLC boosted its position in ToughBuilt Industries by 265.0% in the 2nd quarter. Millennium Management LLC now owns 61,390 shares of the company’s stock worth $137,000 after purchasing an additional 44,573 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of ToughBuilt Industries during the 2nd quarter worth approximately $178,000. Finally, State Street Corp purchased a new position in shares of ToughBuilt Industries during the 3rd quarter valued at approximately $101,000. 20.57% of the stock is owned by hedge funds and other institutional investors.

ToughBuilt Industries Company Profile

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.