Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 247,928 shares, a drop of 38.7% from the May 14th total of 404,228 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 21,520 shares, the short-interest ratio is currently 11.5 days.
Bassett Furniture Industries Price Performance
NASDAQ:BSET traded up $0.10 during trading hours on Tuesday, hitting $15.69. The stock had a trading volume of 24,595 shares, compared to its average volume of 26,156. The company has a 50 day simple moving average of $14.54 and a two-hundred day simple moving average of $15.27. The firm has a market capitalization of $135.75 million, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.19 and a beta of 0.77. Bassett Furniture Industries has a one year low of $13.17 and a one year high of $19.75.
Bassett Furniture Industries (NASDAQ:BSET – Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $80.34 million during the quarter, compared to the consensus estimate of $84.38 million. Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%. Equities research analysts anticipate that Bassett Furniture Industries will post 0.82 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on Bassett Furniture Industries
Institutional Investors Weigh In On Bassett Furniture Industries
Hedge funds and other institutional investors have recently modified their holdings of the stock. Aegis Financial Corp boosted its holdings in Bassett Furniture Industries by 5.2% during the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock valued at $7,457,000 after acquiring an additional 25,878 shares during the period. Renaissance Technologies LLC increased its stake in Bassett Furniture Industries by 4.0% in the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after purchasing an additional 11,700 shares during the period. Geode Capital Management LLC lifted its position in Bassett Furniture Industries by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock valued at $3,275,000 after purchasing an additional 2,796 shares during the last quarter. State Street Corp boosted its stake in shares of Bassett Furniture Industries by 5.8% during the fourth quarter. State Street Corp now owns 119,643 shares of the company’s stock valued at $2,005,000 after purchasing an additional 6,558 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Bassett Furniture Industries by 10.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock valued at $1,538,000 after purchasing an additional 8,743 shares during the period. Institutional investors own 54.40% of the company’s stock.
About Bassett Furniture Industries
Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.
Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.
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