Tuesday Morning (TUES) Shares Down 5%

Shares of Tuesday Morning (NASDAQ:TUES) dropped 5% during mid-day trading on Monday . The stock traded as low as $2.85 and last traded at $2.85. Approximately 638,686 shares traded hands during trading, an increase of 100% from the average daily volume of 320,037 shares. The stock had previously closed at $3.00.

TUES has been the subject of several research reports. Zacks Investment Research raised shares of Tuesday Morning from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. ValuEngine raised shares of Tuesday Morning from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 16th.

The company has a current ratio of 2.03, a quick ratio of 0.15 and a debt-to-equity ratio of 0.23.

Tuesday Morning (NASDAQ:TUES) last announced its quarterly earnings results on Thursday, May 3rd. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. Tuesday Morning had a negative net margin of 2.90% and a negative return on equity of 14.98%. The firm had revenue of $223.30 million during the quarter, compared to analysts’ expectations of $209.00 million. During the same period in the prior year, the company earned ($0.34) EPS. equities research analysts anticipate that Tuesday Morning will post -0.55 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Millrace Asset Group Inc. boosted its position in Tuesday Morning by 9.6% during the 1st quarter. Millrace Asset Group Inc. now owns 738,901 shares of the company’s stock worth $2,919,000 after purchasing an additional 64,420 shares during the period. Ancora Advisors LLC purchased a new stake in Tuesday Morning during the 1st quarter worth $272,000. Element Capital Management LLC purchased a new stake in Tuesday Morning during the 1st quarter worth $137,000. UBS Group AG boosted its position in Tuesday Morning by 34.3% during the 1st quarter. UBS Group AG now owns 929,331 shares of the company’s stock worth $3,671,000 after purchasing an additional 237,512 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in Tuesday Morning during the 1st quarter worth $177,000. 71.09% of the stock is owned by hedge funds and other institutional investors.

About Tuesday Morning

Tuesday Morning Corporation operates as a retailer of upscale decorative home accessories, housewares, seasonal goods, and gifts in the United States. The company offers various products, such as home textiles, home furnishings, housewares, and seasonal décor. It operates approximately 720 stores in 40 states.

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