StockNews.com assumed coverage on shares of TESSCO Technologies (NASDAQ:TESS – Get Rating) in a research note issued to investors on Sunday. The firm set a “hold” rating on the communications equipment provider’s stock.
Separately, Zacks Investment Research raised shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, May 17th.
Shares of TESSCO Technologies stock opened at $5.98 on Friday. The company has a 50 day moving average of $6.03 and a 200-day moving average of $6.10. TESSCO Technologies has a 1-year low of $5.08 and a 1-year high of $8.32. The company has a current ratio of 2.02, a quick ratio of 1.23 and a debt-to-equity ratio of 0.50. The company has a market cap of $53.72 million, a PE ratio of -19.93 and a beta of 0.97.
Large investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in TESSCO Technologies in the 4th quarter valued at approximately $26,000. Cetera Advisor Networks LLC bought a new position in TESSCO Technologies in the 3rd quarter valued at approximately $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 valued at $69,000 after purchasing an additional 9,004 shares during the last quarter. Millennium Management LLC acquired a new position in TESSCO Technologies in the 4th quarter valued at approximately $69,000. Finally, Morgan Stanley increased its position in TESSCO Technologies by 16.7% in the 3rd quarter. Morgan Stanley now owns 37,173 shares of the communications equipment provider’s stock valued at $207,000 after acquiring an additional 5,317 shares during the period. 54.84% of the stock is owned by institutional investors and hedge funds.
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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