Tesco Corp. (TESO) Sees Unusually-High Trading Volume
Shares of Tesco Corp. (NASDAQ:TESO) saw unusually-strong trading volume on Friday . Approximately 1,615,852 shares changed 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 Tesco Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.05.
The company has a 50-day moving average of $6.60 and a 200-day moving average of $7.33. The company’s market capitalization is $259.59 million.
Tesco Corp. (NASDAQ:TESO) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.35) by $0.11. During the same quarter last year, the firm posted ($0.08) earnings per share. The business had revenue of $35.50 million for the quarter, compared to the consensus estimate of $42.86 million. The business’s revenue was down 61.3% compared to the same quarter last year. Equities research analysts expect that Tesco Corp. will post ($1.58) EPS for the current year.
A hedge fund recently raised its stake in Tesco Corp. stock. Dimensional Fund Advisors LP boosted its position 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 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 as of its most recent SEC filing.
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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