Tucows (NASDAQ:TCX) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Tucows shares fell below their 200-day moving average of $14.80, trading as low as $9.10 before closing at $9.27. The stock’s 50-day moving average was $11.79.
• Analyst sentiment remains negative: Weiss Ratings upgraded Tucows from “sell (e+)” to “sell (d-),” while the sole analyst covering the stock maintains a Sell rating and MarketBeat lists a consensus rating of “Sell.”
• Tucows reported a quarterly loss of $1.84 per share on revenue of $100.56 million. Institutional investors own 73.64% of the company, with several major firms increasing their positions.

Tucows Inc. (NASDAQ:TCX - Get Free Report) TSE: TC's share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.80 and traded as low as $9.10. Tucows shares last traded at $9.27, with a volume of 38,891 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Tucows from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Tucows Stock Up 0.3%

The firm has a market capitalization of $103.64 million, a PE ratio of -1.23 and a beta of 0.88. The stock has a 50-day moving average price of $11.79 and a 200 day moving average price of $14.80.

Tucows (NASDAQ:TCX - Get Free Report) TSE: TC last announced its earnings results on Thursday, August 6th. The information services provider reported ($1.84) earnings per share (EPS) for the quarter. The firm had revenue of $100.56 million during the quarter.

Institutional Trading of Tucows

Several institutional investors have recently made changes to their positions in TCX. Barclays PLC raised its position in Tucows by 21.6% in the fourth quarter. Barclays PLC now owns 11,571 shares of the information services provider's stock valued at $259,000 after purchasing an additional 2,059 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Tucows by 48.2% in the 4th quarter. Wells Fargo & Company MN now owns 8,149 shares of the information services provider's stock valued at $183,000 after purchasing an additional 2,651 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Tucows during the 4th quarter worth $87,000. Russell Investments Group Ltd. grew its holdings in shares of Tucows by 903.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,873 shares of the information services provider's stock worth $72,000 after purchasing an additional 3,487 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Tucows by 117.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,923 shares of the information services provider's stock worth $128,000 after purchasing an additional 3,739 shares during the last quarter. Hedge funds and other institutional investors own 73.64% of the company's stock.

About Tucows

Tucows Inc NASDAQ: TCX is a diversified internet services company primarily known for its domain name registration and management business. Through its Domain Services division, Tucows operates leading reseller platforms such as OpenSRS and Enom, offering domain registration, SSL certificates, email hosting and related value-added services to web professionals, small businesses and enterprise partners worldwide. The company's platforms enable thousands of resellers to provide branded internet services to their customers, leveraging Tucows' infrastructure and expertise in the domain name system.

In addition to domain services, Tucows has built a growing portfolio of consumer-facing internet access offerings under the Ting brand.

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