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Thursday, September 28, 2023

ToughBuilt Industries Inc. (NASDAQ:TBLT) Stock is Soaring, Here is Why

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ToughBuilt Industries Inc. (TBLT) shares are trading at higher $0.83 and the avg recommendation for the stock is Moderate Buy.

To add more color to this target, the company’s high over the last year is $4.80 and the low is $0.62. Over the last 52 weeks, TBLT is down -63.91% while the S&P 500 is up 15.29%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, TBLT reported a profit of $7.55 million. ToughBuilt Industries Inc. also saw revenues increase to $16.66 million. In addition, TBLT has free cash flow of -$20.5 million as of 09-2020. The company’s EBITDA came in at $0.7 million which compares well with its peers.

TBLT booked profit margins of -39.30%, its Return on Equity (ROE) is -95.20%, and its Return on Assets is -56.10%. All told, it is clear that, TBLT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. TBLT has a short ratio of 2.07 and outstanding shares of 38.42M.

Company Outlook

TBLT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.44 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.56. ToughBuilt Industries Inc. TBLT also noted assets of $35.37 million at the end of the last quarter. Investors should also keep an eye on sector updates as TBLT has historically followed its peers on positive news.

All told, ToughBuilt Industries Inc. TBLT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, TBLT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

ToughBuilt Industries Inc. TBLT is now commanding a market cap of 31.10M and a float of 38.16M. TBLT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of TBLT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in TBLT, either long or short, and we have not been compensated for this article.

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