TESSCO Technologies (NASDAQ:TESS) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of TESSCO Technologies (NASDAQ:TESS – Get Rating) in a report issued on Tuesday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Separately, Zacks Investment Research downgraded TESSCO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th.

TESS stock opened at $6.18 on Tuesday. The company has a market capitalization of $55.52 million, a P/E ratio of -13.73 and a beta of 1.05. TESSCO Technologies has a twelve month low of $5.08 and a twelve month high of $8.32. The business has a 50 day simple moving average of $5.95 and a 200-day simple moving average of $6.01. The company has a current ratio of 2.02, a quick ratio of 1.23 and a debt-to-equity ratio of 0.50.

TESSCO Technologies (NASDAQ:TESS – Get Rating) last issued its quarterly earnings results on Thursday, February 3rd. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.27. TESSCO Technologies had a negative return on equity of 5.27% and a negative net margin of 0.99%. The firm had revenue of $102.46 million during the quarter, compared to the consensus estimate of $105.13 million. During the same period last year, the company earned ($0.66) earnings per share. Research analysts predict that TESSCO Technologies will post -0.47 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of TESSCO Technologies during the fourth quarter worth $26,000. Cetera Advisor Networks LLC purchased a new position in TESSCO Technologies in the third quarter worth $56,000. Advisor Group Holdings Inc. raised its position in TESSCO Technologies by 268.8% in the third quarter. Advisor Group Holdings Inc. now owns 12,354 shares of the communications equipment provider’s stock worth $69,000 after acquiring an additional 9,004 shares in the last quarter. Millennium Management LLC purchased a new position in TESSCO Technologies in the fourth quarter worth $69,000. Finally, Morgan Stanley raised its position in TESSCO Technologies by 16.7% in the third quarter. Morgan Stanley now owns 37,173 shares of the communications equipment provider’s stock worth $207,000 after acquiring an additional 5,317 shares in the last quarter. 56.94% of the stock is owned by hedge funds and other institutional investors.

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