Tesco Corp. (NASDAQ:TESO) fell 4% during trading on Wednesday . The stock traded as low as $6.87 and last traded at $6.88, with a volume of 87,632 shares changing hands. The stock had previously closed at $7.17.

Separately, Zacks Investment Research raised Tesco Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Tesco Corp. has an average rating of “Hold” and an average target price of $10.75.

The stock has a 50 day moving average of $6.83 and a 200-day moving average of $7.37. The firm’s market capitalization is $267.44 million.

Tesco Corp. (NASDAQ:TESO) last released its earnings results on Tuesday, May 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.11. The business earned $35.50 million during the quarter, compared to the consensus estimate of $42.86 million. The company’s revenue for the quarter was down 61.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. Equities analysts expect that Tesco Corp. will post ($1.61) EPS for the current year.

An institutional investor recently raised its position in Tesco Corp. stock. Dimensional Fund Advisors LP increased its position in shares of Tesco Corp. (NASDAQ:TESO) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 5.90% of Tesco Corp. worth $16,653,000 at the end of the most recent quarter.

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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