StockNews.com Begins Coverage on TESSCO Technologies (NASDAQ:TESS)

StockNews.com started coverage on shares of TESSCO Technologies (NASDAQ:TESSGet Rating) in a research report issued to clients and investors on Friday. The firm 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 research report on Tuesday, April 5th.

TESS opened at $5.74 on Friday. The business has a 50 day moving average of $6.00 and a 200-day moving average of $6.08. The stock has a market cap of $51.57 million, a PE ratio of -12.76 and a beta of 0.97. TESSCO Technologies has a 52 week low of $5.08 and a 52 week high of $8.32. The company has a quick ratio of 1.23, a current ratio of 2.02 and a debt-to-equity ratio of 0.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in shares of TESSCO Technologies during the 4th quarter valued at about $26,000. Cetera Advisor Networks LLC acquired a new stake in TESSCO Technologies in the 3rd quarter worth about $56,000. Advisor Group Holdings Inc. lifted its stake in TESSCO Technologies by 268.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 12,354 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 9,004 shares in the last quarter. Millennium Management LLC purchased a new position in TESSCO Technologies in the 4th quarter worth approximately $69,000. Finally, Morgan Stanley raised its position in shares of TESSCO Technologies by 16.7% during the 3rd quarter. Morgan Stanley now owns 37,173 shares of the communications equipment provider’s stock valued at $207,000 after buying an additional 5,317 shares during the period. Institutional investors and hedge funds own 54.84% of the company’s stock.

About TESSCO Technologies (Get Rating)

TESSCO Technologies Incorporated architects and delivers product and value chain solutions to support wireless systems in the United States and internationally. 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 products, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems.

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