Telos (NASDAQ:TLS) Shares Gap Down - Here's What Happened

Key Points

• Telos Corporation's stock price gapped down from $7.28 to $6.85 before last trading at $7.01, with a volume of 178,691 shares traded.
• Wall Street analysts have mixed views on Telos, with one raising the rating to "buy" and others setting price targets between $4.00 and $6.00, resulting in a consensus target price of $4.83.
• Significant insider selling occurred recently, with the CEO and a director reducing their stock holdings, indicating potential concerns or shifts in confidence regarding the company's future.

Telos Corporation (NASDAQ:TLS - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $7.28, but opened at $6.85. Telos shares last traded at $7.01, with a volume of 178,691 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen raised Telos from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Wedbush increased their price target on Telos from $4.00 to $6.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. BMO Capital Markets reissued a "market perform" rating and issued a $4.50 price target (up previously from $2.25) on shares of Telos in a research note on Tuesday, August 12th. Finally, DA Davidson increased their price target on Telos from $2.25 to $4.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.83.

Telos Price Performance

The company has a 50 day moving average of $5.03 and a two-hundred day moving average of $3.47. The firm has a market cap of $516.55 million, a P/E ratio of -9.21 and a beta of 1.06. The company has a quick ratio of 2.55, a current ratio of 2.65 and a debt-to-equity ratio of 0.06.

Insiders Place Their Bets

In related news, Director Bradley W. Jacobs sold 25,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $6.26, for a total value of $156,500.00. Following the completion of the transaction, the director owned 188,293 shares in the company, valued at $1,178,714.18. This trade represents a 11.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John B. Wood sold 200,000 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $6.55, for a total value of $1,310,000.00. Following the completion of the transaction, the chief executive officer owned 4,984,365 shares of the company's stock, valued at $32,647,590.75. This trade represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 537,544 shares of company stock worth $3,579,041 over the last three months. Company insiders own 14.90% of the company's stock.

Hedge Funds Weigh In On Telos

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Telos by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,660 shares of the company's stock valued at $189,000 after purchasing an additional 11,980 shares during the period. NBC Securities Inc. boosted its position in shares of Telos by 100,808.3% in the 1st quarter. NBC Securities Inc. now owns 12,109 shares of the company's stock valued at $28,000 after purchasing an additional 12,097 shares during the period. American Century Companies Inc. boosted its position in shares of Telos by 12.8% in the 1st quarter. American Century Companies Inc. now owns 108,217 shares of the company's stock valued at $258,000 after purchasing an additional 12,284 shares during the period. Deutsche Bank AG boosted its position in Telos by 33.5% during the 4th quarter. Deutsche Bank AG now owns 43,981 shares of the company's stock worth $150,000 after acquiring an additional 11,037 shares during the period. Finally, Bank of America Corp DE boosted its position in Telos by 111.5% during the 4th quarter. Bank of America Corp DE now owns 69,761 shares of the company's stock worth $239,000 after acquiring an additional 36,778 shares during the period. Institutional investors and hedge funds own 62.14% of the company's stock.

About Telos

Telos Corporation, together with its subsidiaries, provides cyber, cloud, and enterprise security solutions worldwide. The company operates in two segments, Security Solutions and Secure Networks. It provides Xacta, a platform for enterprise cyber risk management and security compliance automation; and consulting, assessment and compliance, engineering and evaluation, operations, and penetration testing services.

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