Price Action Report: Could TESSCO Technologies, Inc. Gain Strenght? The Stock Reaches 52 Week Low

Price Action Report: Could TESSCO Technologies, Inc. Gain Strenght? The Stock Reaches 52 Week Low

The stock of TESSCO Technologies, Inc. (NASDAQ:TESS) hit a new 52-week low and has $9.50 target or 14.00% below today’s $11.05 share price. The 8 months bearish chart indicates high risk for the $87.88M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $9.50 price target is reached, the company will be worth $12.30M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 0.45% or $0.05 on November 2, hitting $11.05. About 4,999 shares traded hands or 0.22% up from the average. TESSCO Technologies, Inc. (NASDAQ:TESS) has declined 33.03% since March 31, 2016 and is downtrending. It has underperformed by 35.56% the S&P500.

According to Zacks Investment Research, “TESSCO Technologies Inc. is a leading provider of the services, products and solutions required to build, operate, maintain and use wireless voice, data, messaging, location tracking and Internet systems. The company provides marketing and sales services, knowledge and supply chain management, product-solution delivery and control systems utilizing Internet and information technology. The company’s guiding vision is to be The Vital Link between buyers and manufacturers. For its customers, the company provides a total source of product knowledge and solutions.”

Insitutional Activity: The institutional sentiment increased to 1.05 in Q2 2016. Its up 0.25, from 0.8 in 2016Q1. The ratio increased, as 8 funds sold all TESSCO Technologies, Inc. shares owned while 12 reduced positions. 2 funds bought stakes while 19 increased positions. They now own 4.90 million shares or 1.34% less from 4.97 million shares in 2016Q1.
The Texas-based Eagle Global Advsrs Lc has invested 0.01% in TESSCO Technologies, Inc. (NASDAQ:TESS). Bank & Trust Of New York Mellon has 44,011 shares for 0% of their US portfolio. Jpmorgan Chase & reported 18,222 shares or 0% of all its holdings. Moreover, Dimensional Fund Advsr Limited Partnership has 0% invested in TESSCO Technologies, Inc. (NASDAQ:TESS) for 448,567 shares. Nationwide Fund, a Pennsylvania-based fund reported 2,222 shares. Citigroup has invested 0% of its portfolio in TESSCO Technologies, Inc. (NASDAQ:TESS). Deprince Race And Zollo Incorporated last reported 0.16% of its portfolio in the stock. Blackrock Institutional Trust Na reported 140,529 shares or 0% of all its holdings. Vanguard Grp Incorporated last reported 169,754 shares in the company. The United Kingdom-based Gsa Capital Partners Llp has invested 0.04% in TESSCO Technologies, Inc. (NASDAQ:TESS). Cornerstone Mgmt last reported 4,000 shares in the company. Tieton Mngmt Ltd Liability last reported 163,240 shares in the company. The North Carolina-based National Bank Of America Corporation De has invested 0% in TESSCO Technologies, Inc. (NASDAQ:TESS). Ladenburg Thalmann Financial Ser has invested 0% of its portfolio in TESSCO Technologies, Inc. (NASDAQ:TESS). Morgan Stanley reported 8,912 shares or 0% of all its holdings.

More recent TESSCO Technologies, Inc. (NASDAQ:TESS) news were published by: Quotes.Wsj.com which released: “News Tessco Technologies Inc.TESS” on February 12, 2011. Also Bizjournals.com published the news titled: “Tessco Technologies names new CEO” on September 01, 2016. Businesswire.com‘s news article titled: “TESSCO Technologies Announces Senior Vice President Election” with publication date: August 17, 2015 was also an interesting one.

TESS Company Profile

TESSCO Technologies Incorporated (TESSCO), incorporated on December 11, 1986, architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems. The Firm provides marketing and sales services, knowledge and supply chain management, product-solution delivery and control systems utilizing Internet and information technology.

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