TESSCO Technologies (TESS) Hits New 12-Month Low at $11.23
TESSCO Technologies, Inc. (NASDAQ:TESS) hit a new 52-week low on Tuesday . The stock traded as low as $11.23 and last traded at $11.54, with a volume of 558 shares traded. The stock had previously closed at $11.73.
Separately, ValuEngine downgraded TESSCO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th.
The company has a market capitalization of $99.94 million, a P/E ratio of 22.38 and a beta of 1.44.
Several large investors have recently added to or reduced their stakes in TESS. Tower Research Capital LLC TRC lifted its stake in shares of TESSCO Technologies by 732.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,849 shares of the communications equipment provider’s stock worth $102,000 after acquiring an additional 5,146 shares in the last quarter. Algert Global LLC acquired a new position in shares of TESSCO Technologies in the second quarter worth about $536,000. Acadian Asset Management LLC acquired a new position in shares of TESSCO Technologies in the second quarter worth about $588,000. Raymond James & Associates lifted its stake in shares of TESSCO Technologies by 18.8% in the second quarter. Raymond James & Associates now owns 40,833 shares of the communications equipment provider’s stock worth $706,000 after acquiring an additional 6,456 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in shares of TESSCO Technologies by 38.7% in the second quarter. Wedge Capital Management L L P NC now owns 70,302 shares of the communications equipment provider’s stock worth $1,216,000 after acquiring an additional 19,602 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.
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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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