TSS (NASDAQ:TSSI) Issues Earnings Results

TSS (NASDAQ:TSSI) released its quarterly earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $35.14 million for the quarter. TSS had a return on equity of 25.27% and a net margin of 7.14%.

TSS Stock Performance

Shares of TSSI stock traded down $0.15 during midday trading on Thursday, hitting $11.96. The company had a trading volume of 1,979,423 shares, compared to its average volume of 1,365,606. The stock has a market cap of $335.72 million, a price-to-earnings ratio of 24.41 and a beta of 2.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.18 and a quick ratio of 1.99. The company’s 50 day simple moving average is $11.44 and its 200 day simple moving average is $11.70. TSS has a 52-week low of $6.87 and a 52-week high of $21.77.

Insider Activity at TSS

In related news, SVP Kieran Brennan sold 10,000 shares of TSS stock in a transaction on Monday, June 1st. The shares were sold at an average price of $16.00, for a total value of $160,000.00. Following the transaction, the senior vice president directly owned 271,333 shares in the company, valued at $4,341,328. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter H. Woodward sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.48, for a total transaction of $1,548,000.00. Following the completion of the transaction, the director directly owned 1,114,061 shares in the company, valued at $17,245,664.28. This represents a 8.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 310,000 shares of company stock valued at $4,922,000 in the last 90 days. Company insiders own 15.97% of the company’s stock.

Institutional Trading of TSS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE acquired a new position in shares of TSS during the fourth quarter worth about $40,000. NewEdge Advisors LLC lifted its position in TSS by 536.7% in the first quarter. NewEdge Advisors LLC now owns 141,686 shares of the company’s stock valued at $1,112,000 after purchasing an additional 119,432 shares during the period. Goldman Sachs Group Inc. boosted its holdings in TSS by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 60,540 shares of the company’s stock valued at $475,000 after purchasing an additional 17,310 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in TSS in the 2nd quarter valued at approximately $249,000. Finally, Legal & General Group Plc purchased a new stake in TSS in the 2nd quarter valued at approximately $59,000.

Wall Street Analysts Forecast Growth

TSSI has been the subject of several research analyst reports. Weiss Ratings downgraded TSS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of TSS in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of TSS from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.17.

About TSS

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments. TSS Inc, formerly known as Fortress International Group, Inc, is based in Columbia, United States.