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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 73,521 shares, a drop of 67.4% from the June 15th total of 225,622 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 143,821 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BSET shares. Weiss Ratings raised Bassett Furniture Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 30th. Wall Street Zen upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research upgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Bassett Furniture Industries Trading Up 2.7%

Bassett Furniture Industries stock traded up $0.58 during mid-day trading on Wednesday, hitting $22.07. The company had a trading volume of 45,440 shares, compared to its average volume of 40,918. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $22.26. The company has a market capitalization of $191.13 million, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76. The stock’s 50 day moving average price is $16.12 and its two-hundred day moving average price is $15.55.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.The firm had revenue of $83.75 million during the quarter, compared to analyst estimates of $83.32 million. During the same quarter in the previous year, the firm earned $0.22 EPS. Equities research analysts anticipate that Bassett Furniture Industries will post 0.89 EPS for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of institutional investors have recently made changes to their positions in the company. Aegis Financial Corp lifted its position in Bassett Furniture Industries by 5.2% in 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 in the last quarter. Renaissance Technologies LLC raised its position 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 buying an additional 11,700 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bassett Furniture Industries by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock valued at $3,275,000 after acquiring an additional 2,796 shares during the last quarter. State Street Corp raised its holdings 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 last quarter. Finally, Bridgeway Capital Management LLC lifted its position in 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. Hedge funds and other 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.