Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Update

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 247,928 shares, a decrease of 38.7% from the May 14th total of 404,228 shares. Based on an average trading volume of 21,520 shares, the short-interest ratio is currently 11.5 days. Currently, 3.1% of the shares of the company are short sold.

Bassett Furniture Industries Stock Performance

Shares of BSET opened at $15.73 on Monday. Bassett Furniture Industries has a fifty-two week low of $13.17 and a fifty-two week high of $19.75. The company has a market capitalization of $136.06 million, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. The firm has a 50-day simple moving average of $14.50 and a 200-day simple moving average of $15.28.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $80.34 million during the quarter, compared to analyst estimates of $84.38 million. Bassett Furniture Industries had a net margin of 1.61% and a return on equity of 3.48%. Equities research analysts forecast that Bassett Furniture Industries will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of hedge funds have recently added to or reduced their stakes in BSET. Russell Investments Group Ltd. lifted its position in Bassett Furniture Industries by 95.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after purchasing an additional 734 shares during the period. Group One Trading LLC acquired a new stake in Bassett Furniture Industries in the second quarter valued at about $30,000. Motiv8 Investments LLC acquired a new stake in Bassett Furniture Industries in the fourth quarter valued at about $42,000. Nalls Sherbakoff Group LLC acquired a new stake in Bassett Furniture Industries in the fourth quarter valued at about $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Bassett Furniture Industries in the second quarter valued at about $68,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BSET. Wall Street Zen downgraded shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

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.