Healthy Upside Potential: Tuesday Morning Corporation (TUEM)

Tuesday Morning Corporation (NASDAQ: TUEM) stock fell -11.05% on Tuesday to $0.12 against a previous-day closing price of $0.14. With 1.46 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.86 million shares. During the session, the Discount Stores company that operates in wider Consumer Defensive sector, reached to the highest price of $0.1409 whereas the lowest price it dropped to was $0.1130. The 52-week range on TUEM shows that it touched its highest point at $2.83 and its lowest point at $0.09 during that stretch.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TUEM was down-trending over the past week, with a drop of -12.54%, but this was up by 11.24% over a month. Three-month performance dropped to -63.63% while six-month performance fell -75.27%. The stock lost -95.72% in the past year, while it has lost -94.71% so far this year.

Float and Shares Shorts:

At present, 85.45 million TUEM shares are outstanding with a float of 82.37 million shares on hand for trading. On Oct 13, 2022, short shares totaled 10.63 million, which was 6.03% higher than short shares on Sep 14, 2022. In addition to Mr. Fred Hand as the firm’s CEO & Director, Mr. Marc D. Katz serves as its Principal, Interim CFO & COO.

Institutional Ownership:

Through their ownership of 41.26% of TUEM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 60.54% of TUEM, in contrast to 2.55% held by mutual funds. Shares owned by individuals account for 16.38%. As the largest shareholder in TUEM with 11.43% of the stake, Tensile Capital Management LLC holds 20,158,593 shares worth 20,158,593. A second-largest stockholder of TUEM, Adage Capital Management LP, holds 3,510,824 shares, controlling over 1.99% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TUEM, holding 2,276,095 shares or 1.29% stake. With a 0.82% stake in TUEM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,446,840 shares are owned by the mutual fund manager. The PRIMECAP Odyssey Aggressive Growt, which owns about 0.55% of TUEM stock, is the second-largest Mutual Fund holder. It holds 967,000 shares valued at 0.13 million. Vanguard Extended Market Index Fu holds 0.42% of the stake in TUEM, owning 745,168 shares worth 99853.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TUEM since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TUEM analysts setting a high price target of $0.20 and a low target of $0.20, the average target price over the next 12 months is $0.20. Based on these targets, TUEM could surge 66.67% to reach the target high and rise by 66.67% to reach the target low. Reaching the average price target will result in a growth of 66.67% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TUEM will report FY 2023 earnings on 08/24/2023. Analysts have provided yearly estimates in a range of -$0.28 being high and -$0.28 being low. For TUEM, this leads to a yearly average estimate of -$0.28. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.24 and the low estimate is -$0.24. The average estimate for the next quarter is thus -$0.24.

Summary of Insider Activity:

Insiders traded TUEM stock several times over the past three months with 1 Buys and 6 Sells. In these transactions, 90,000,000 shares were bought while 171,892 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 90,029,091 while 349,006 shares were sold.

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