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

Equities research analysts at StockNews.com started coverage on shares of TESSCO Technologies (NASDAQ:TESSGet Rating) in a note issued to investors on Monday. The firm set a “hold” rating on the communications equipment provider’s stock.

TESSCO Technologies Price Performance

TESS opened at $4.85 on Monday. TESSCO Technologies has a 12-month low of $4.03 and a 12-month high of $8.32. The company has a current ratio of 1.91, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $4.45 and its 200-day simple moving average is $5.24. The company has a market capitalization of $44.64 million, a price-to-earnings ratio of 69.30 and a beta of 0.95.

Institutional Investors Weigh In On TESSCO Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC boosted its position in TESSCO Technologies by 23.8% during the third quarter. Marquette Asset Management LLC now owns 40,675 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 7,814 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in TESSCO Technologies by 2.5% in the first quarter. Essex Investment Management Co. LLC now owns 93,356 shares of the communications equipment provider’s stock worth $564,000 after acquiring an additional 2,261 shares in the last quarter. Employees Retirement System of Texas boosted its holdings in TESSCO Technologies by 39.8% in the first quarter. Employees Retirement System of Texas now owns 119,341 shares of the communications equipment provider’s stock worth $721,000 after acquiring an additional 34,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TESSCO Technologies by 1.5% in the third quarter. Vanguard Group Inc. now owns 226,398 shares of the communications equipment provider’s stock worth $937,000 after acquiring an additional 3,370 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in TESSCO Technologies by 1.7% in the third quarter. BlackRock Inc. now owns 401,017 shares of the communications equipment provider’s stock worth $1,660,000 after acquiring an additional 6,524 shares in the last quarter. Institutional investors own 53.35% of the company’s stock.

TESSCO Technologies Company Profile

(Get Rating)

TESSCO Technologies Incorporated manufactures and distributes technology products and solutions for wireless infrastructure market in the United States and internationally. It operates through two segments, Carrier and Commercial. 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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