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This penny stock newsletter that delivers the best stocks to watch would alert you to a penny stock with potential. TOUGHBUILT INDUSTRIES INC. we will discuss press releases, market data, and key information on this explosive company.
Toughbuilt Industries, Inc. The companys main activities include marketing and distributing home improvement and construction product lines under its TOUGHBUILT brand. It offers a wide range of products such as cliptech tool belts, sawhorses, business organizations, miter saw stands, bags and totes, and pouches and bags. This company was founded by Michael Panosian and Joshua Keeler in 2012 and is headquartered in Lake Forest CA.
Company Overview of TOUGHBUILT INDUSTRIES, Inc.
Toughbuilt markets and distributes many innovative products. It is mainly involved in product design, manufacturing, and distributing several innovative products to the market. The company is mainly focused on tools and accessories for professionals and the DIY construction industries. TBLT markets and distributes various home improvement and a wide range of construction product lines for professional consumers and DIY markets under its toughbuilt brand name within the multibillion-dollar global tool market industry. The company’s products are all designed in-house by their professional design teams. Since they had launched their product sales in 2013, they have experienced significant annual sales growth. Their current product lines include three major categories, with other additional categories in various development stages, which consist of Kneepads and Sawhorses, Soft Goods, and work products. The company’s main mission is to produce quality products to the building and home improvement industries that are innovative, high quality derived from creativity for the end-users, enhancing performance, building brand loyalty, and improving well-being. You can find more information about this amazing company to discover their product lines and innovations. https://www.toughbuilt.com/
Financial News And press releases for TBLT Stocks
Nasdaq Listing Requirements
Toughbuilt Industries, Inc, Lake Forest, CA Press release for ToughBuilt Industries (NASDAQ: TBLT; TBLTW), The company announced that it had received its notification letter from the qualifications staff of Nasdaq stock market (Nasdaq), which indicates the company has regained its compliance with minimum bid price requirements, which are outlined in rule 5550 of the Nasdaq listing rules, which is the Minimum Bid Price Requirement.
As the company had previously announced that it had received a notification letter from Nasdaq, who indicated the closing bid price for a share had been below 1$ for 30 consecutive business days. The company did not meet its minimum bid price requirements. In January 2021, the company received a 180-day extension from Nasdaq to meet Nasdaq’s continuing listing requirements by maintaining its minimum bid requirement.
Nasdaq has now determined that for the last 20 consecutive days from Jan to Feb, the closing bid price of the company’s stock had been 1$ or greater. The staff informed TBLT it had regained its compliance with listing rules.
The fiscal year 2020 Amazon Sales Approx 7 Million.
Toughbuilt Industries, Inc, Lake Forest CA, (NASDAQ: TBLT; TBLTW), Today the company announced the gross sales through its Amazon storefronts for the year-end in December 2020, which was roughly 7.04 million
Michael Panosian CEO said “The Amazon storefront are an indication of the progress that they have made with their product lines and their commitment and investments in becoming a global company. They will also look forward to growing their sales through Amazon platforms internationally as they are planning to launch new lines in the coming year.”
The Amazon storefront sales are expected to be approximately 7.046,407$
ToughBuilt Industries180 Day Extension to Meet Nasdaq Minimum Bid
Toughbuilt Industries, Inc, Lake Forest, CA, (NASDAQ: TBLT; TBLTW). The company had announced that they had received a 180 extension from Nasdaq Qualification Department to meet Nasdaq’s listing requirements by maintaining their minimum bid price of 1$ for 10 consecutive business days. The company has until July 2021 to meet the minimum bid requirements for Nasdaq.
The company had been notified of its failure to maintain its minimum bid price of 1$ for 30 trading days under the Nasdaq listing rules 5550 and 5810 in July 2020 and was then given until January 2021 to regain its compliance.
Michael Panosian CEO said, “The company is pleased to receive the extension, and we believe that we will regain our compliance during that extension.”
ToughBuilt Industries, Shift from loss to profit.
(NASDAQ:TBLT) ToughBuilt Industries, Inc.’s, This is an exceptional time to analyze the company. It may be on a considerable accomplishment ToughBuilt Industries, Inc. mainly manufactures, designs, develops, and distributes home improvement and construction products for building industries globally. The company had announced losses of approx. 4.3 million for the full financial year and a later loss of 7.4million, the company moved further away from their break even. It was a concern for many investors for ToughBuilt Industries‘ profitability path and raised questions like, when will it breakeven? We will further analyze the expectations for the company’s growth and development.
ToughBuilt Industries has nearly reached breakeven, according to various American analysts. They anticipate that the company will make a final loss in 2022 before generating profits of 990K in 2023, which means that the estimated breakeven point is approximately two years from now. The analysts expect the company to grow by 63% each year, which certainly signals high confidence levels from the analysts. If the business grows at a slower rate, it would go into profitability later.
One thing to keep in mind is the company has managed its capital extremely well, with debt making up just 13% of its equity, which means that the company has funded all of its operations from its equity capital. Its low debt obligations will reduce the risk around investing or loss-making.
LAUNCHES 11 NEW HAND TOOLS AT LOWE’S
Toughbuilt Industries, Inc, Lake Forest (NASDAQ: TBLT; TBLTW), The company has announced the launch of new cutting tools, which consist of Knives, Aviation Snips, and Shears in Lowe’s US stores.
Michael Panosian, the CEO, said, “We are excited about adding a range of new hand tools at Lowe’s. We also believe that our high-quality Knives, Aviation Snip lines, and shears will be positive additions to Lowe’s in their hand tool categories. This is a key accomplishment for the company as we continue to expand our hand tools.”
The shears are currently available nationwide in all Lowe’s department stores. Aviation snips and knives are available in the west coast stores and can purchase all products online at lowes.com
More about TOUGHBUILT INDUSTRIES, Inc
ToughBuilt Industries, Inc is an innovative company that mainly focuses on distribution, manufacturing, and product design. They are focused on tools and various accessories for the professional construction industries—the company market construction product lines and various home improvement products under their TOUGHBUILT brand.
This is a multibillion-dollar tool market industry. All of the company’s products are designed in-house. Since its product launch in 2013, the company has received significant annual sales growth. Their current product line includes three categories and several other categories in development stages; these consist of Sawhorses, Work Products, and Soft Goods. TBLT mission is to provide quality products to the home improvement and building industries that are innovative and improve its end users’ creativity, which will build superb brand loyalty and well-being amongst its consumers.
LAUNCHES 14 TOOL ORGANIZATION SKUs AT LOWE’S NATIONWIDE
ToughBuilt Industries, Inc, Lake Forest CA (NASDAQ: TBLT; TBLTW) Announced the launch of its soft-sided tool organization range of products, which consist of CLIPTECH™ pouches & accessories, and four hard body bags in Lowe’s stores nationwide and also available in their online store at lowes.com
Michael Panosian, the CEO, said, “These products are the best in category products that will set a market standard of performance. The company is proud of the team who worked round the clock to produce this complex product line and delivered record-time results.
We are delighted with this opportunity with Lowe’s, and the company looks forward to strengthening its partnership as they continue to manufacture, design, and offer high-quality innovations to the professional builders at Lowe’s
Key market data
TBLT stocks price at 1.4800 and has gone down by -1.33% at the time of this write-up.
Currently, its market cap is 91.408M, its 52 week range is 0.6210 – 2.9500, its PE Ratio (TTM) N/A, Its earnings date is between Mar 22, 2021 – Mar 29, 2021, shares outstanding are 61.76M
The market Cap of TBLT Stock reached 35.02M, with 0.87M shares outstanding, and the current float stands at 33.67M
The changing numbers of TBLT shares outstanding, and understanding the concept of differing shares outstanding is like comparing companies such as TBLT versing their peers. This is critical for investors.
When considering high dividend yields, usually over 10%, it should always be considered very risky. In comparison, low dividend yields are usually 1% or less, which might not be suitable for long-term investors.
ToughBuilt Industries market Capitalization is 59.62M, and the company generates 19.09M in revenue every year.
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ToughBuilt What is it?
Toughbuilt Industries, Inc. distributes, manufactures, and designs tools and accessories. The Company offers sawhorses, pouches bags and totes, knee pads, miter saw stands, and cliptech tool belts. Toughbuilt Industries serves the building and construction industry globally and throughout the United States.
Is TBLT a great stock to buy?
Maxim Group is very positive towards TBLT and gave it a “Buy” rating for August 19, 2020. analyzed the price target to reach $2.00.
Predicted Opening stock Price for Toughbuilt Industries Inc. On Tuesday, February 16, 2021.
A Fair opening price for February 16, 2021
The current price of the stock
Is ToughBuilt Industries a buy now?
1 Wall Street research analysts have analyzed a “buy,” “hold,” and “sell” ratings for ToughBuilt Industries within the last year. There is currently 1 buy rating for the stock. The feeling among Wall Street research analysts predicts that investors should “buy” ToughBuilt Industries stock.
What stocks do MarketBeat like much better than ToughBuilt Industries?
Wall Street analysts have predicted ToughBuilt Industries a “Buy” rating, but there may be better short-term opportunities throughout the markets. Some of MarketBeat’s past profitable trading ideas have profited by 5-15% weekly gains. MarketBeat just released five new trading ideas, but ToughBuilt Industries was not included. MarketBeat thinks these five stocks may be even better buys.
Are investors and traders shorting ToughBuilt Industries?
ToughBuilt Industries saw an increase in short interest throughout January. As of January 29th, there was a short interest that totaled 3,470,000 shares, which is an increase of 23.0%; from January 14th there were 2,820,000 shares. Based on the average daily volume of 4,240,000 shares, the days-to-cover ratio is approximately 0.8 days.
ToughBuilt Industries‘ has the stock been impacted by Coronavirus?
ToughBuilt Industries‘ stock price was trading at $0.1687 on March 11th, 2020 when Coronavirus reached pandemic status. Since then, TBLT shares have increased by approximately 777.3% and are now trading at $1.48.
What major investors are buying ToughBuilt Industries stock?
Several institutional investors purchased TBLT stock in the last quarter, which includes Renaissance Technologies LLC.
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