Price Action to Note: TESSCO Technologies, Inc. Can’t Be More Risky. Just Reaches 52 Week Low

Price Action to Note: TESSCO Technologies, Inc. Can't Be More Risky. Just Reaches 52 Week Low

The stock of TESSCO Technologies, Inc. (NASDAQ:TESS) hit a new 52-week low and has $9.22 target or 13.00% below today’s $10.60 share price. The 6 months bearish chart indicates high risk for the $84.30 million company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $9.22 price target is reached, the company will be worth $10.96M 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 closed at $10.6 during the last session. It is up 36.21% since April 5, 2016 and is downtrending. It has underperformed by 38.16% 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 2016 Q2. 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.
Moreover, Nationwide Fund Advsr has 0% invested in TESSCO Technologies, Inc. (NASDAQ:TESS) for 2,222 shares. Brown Advisory holds 0% or 79,170 shares in its portfolio. Blackrock Investment Mngmt Ltd Liability Corp holds 1,019 shares or 0% of its portfolio. Rbf Capital Ltd accumulated 0.03% or 10,723 shares. Walleye Trading Lc has invested 0% of its portfolio in TESSCO Technologies, Inc. (NASDAQ:TESS). Blackrock Fund Advsrs has 0% invested in the company for 16,184 shares. Parametric Port Ltd Company accumulated 0% or 18,394 shares. Acadian Asset Mgmt Limited Liability Corp accumulated 0% or 15,618 shares. Gsa Prtn Llp accumulated 0.04% or 54,256 shares. Ladenburg Thalmann Finance Serv, a Florida-based fund reported 47 shares. Citigroup holds 0% or 200 shares in its portfolio. Deutsche National Bank & Trust Ag has 0% invested in the company for 31,046 shares. Mufg Americas owns 350 shares or 0% of their US portfolio. California Pub Employees Retirement last reported 0% of its portfolio in the stock. Tieton Cap Management Lc reported 163,240 shares or 2.21% 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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