Tungray Technologies (NASDAQ:TRSG) Stock Falls 11.7% – Here’s What Happened

Shares of Tungray Technologies Inc. (NASDAQ:TRSG) traded down 11.7% on Monday. The company traded as low as $1.22 and last traded at $1.22. 1,137,605 shares changed hands during mid-day trading, an increase of 50,755% from the average daily volume of 2,237 shares. The stock had previously closed at $1.3818.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tungray Technologies in a research report on Friday, July 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Tungray Technologies Stock Performance

The stock’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $1.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.94 and a quick ratio of 1.59.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tungray Technologies stock. T3 Companies LLC acquired a new position in shares of Tungray Technologies Inc. (NASDAQ:TRSG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 499,122 shares of the company’s stock, valued at approximately $557,000. T3 Companies LLC owned 3.05% of Tungray Technologies as of its most recent SEC filing.

About Tungray Technologies

Tungray Technologies Limited is a Singapore-based industrial technology company that provides custom automation solutions and manufacturing services for customers in the semiconductor and electronics industries. The company develops equipment and systems intended to support production, assembly, testing and other manufacturing processes.

Its offerings include the design and manufacture of industrial automation equipment, as well as precision machining and related engineering services. Tungray also supplies components and customized production solutions designed to meet the operating requirements of individual customers.

Through its subsidiaries, the company serves customers in Asian manufacturing markets, including Singapore and China.