TESSCO Technologies (NASDAQ:TESS) Trading Up 8.6%

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Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) were up 8.6% during trading on Monday . The company traded as high as $5.28 and last traded at $5.20, approximately 170,539 shares traded hands during trading. An increase of 97% from the average daily volume of 86,683 shares. The stock had previously closed at $4.79.

A number of analysts recently commented on TESS shares. ValuEngine raised shares of TESSCO Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, June 1st. Zacks Investment Research upgraded shares of TESSCO Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, April 1st.

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.45 and a quick ratio of 0.84. The company has a market cap of $44.34 million, a price-to-earnings ratio of -2.06 and a beta of 1.25. The business’s 50-day simple moving average is $5.12 and its 200-day simple moving average is $6.87.

TESSCO Technologies (NASDAQ:TESS) last announced its earnings results on Tuesday, May 12th. The communications equipment provider reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.60). The business had revenue of $128.18 million for the quarter, compared to analyst estimates of $128.86 million. TESSCO Technologies had a negative return on equity of 6.36% and a negative net margin of 3.99%. As a group, sell-side analysts forecast that TESSCO Technologies, Inc. will post -1.59 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in shares of TESSCO Technologies by 2.8% in the first quarter. State Street Corp now owns 112,168 shares of the communications equipment provider’s stock valued at $549,000 after buying an additional 3,016 shares during the last quarter. Invesco Ltd. acquired a new position in shares of TESSCO Technologies in the first quarter valued at approximately $218,000. Morgan Stanley raised its position in shares of TESSCO Technologies by 11.4% in the first quarter. Morgan Stanley now owns 29,926 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 3,063 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of TESSCO Technologies by 49.3% in the first quarter. Wells Fargo & Company MN now owns 16,526 shares of the communications equipment provider’s stock valued at $80,000 after buying an additional 5,458 shares during the last quarter. Finally, Invenomic Capital Management LP raised its position in shares of TESSCO Technologies by 103.9% in the first quarter. Invenomic Capital Management LP now owns 251,779 shares of the communications equipment provider’s stock valued at $1,231,000 after buying an additional 128,317 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.

TESSCO Technologies Company Profile (NASDAQ:TESS)

TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.

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