Tesco Corp. (TESO) Sees Large Volume Increase
Tesco Corp. (NASDAQ:TESO) saw strong trading volume on Friday . 1,615,852 shares traded hands during mid-day trading, an increase of 306% from the previous session’s volume of 397,650 shares.The stock last traded at $6.61 and had previously closed at $6.43.
Separately, Zacks Investment Research raised shares of Tesco Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Tesco Corp. currently has an average rating of “Buy” and an average target price of $10.05.
The firm’s market capitalization is $259.59 million. The firm has a 50-day moving average of $6.60 and a 200-day moving average of $7.33.
Tesco Corp. (NASDAQ:TESO) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.35) by $0.11. The business earned $35.50 million during the quarter, compared to analyst estimates of $42.86 million. The business’s quarterly revenue was down 61.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. Analysts anticipate that Tesco Corp. will post ($1.58) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Tesco Corp. stock. Dimensional Fund Advisors LP raised its stake in Tesco Corp. (NASDAQ:TESO) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,300,177 shares of the company’s stock after buying an additional 25,710 shares during the period. Dimensional Fund Advisors LP owned 5.90% of Tesco Corp. worth $16,653,000 at the end of the most recent reporting period.
Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.
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