TeraGo (TSE:TGO) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• TeraGo shares crossed above their 200-day moving average, reaching C$1.44 before closing at C$1.40, compared with the 200-day average of C$1.07.
• ATB Cormark raised its price target from C$0.80 to C$1.25 while maintaining a “sector perform” rating. The stock has a consensus “Hold” rating and a C$1.25 target price.
• The company reported a quarterly loss of C$0.08 per share on C$6.17 million in revenue, alongside weak profitability metrics; meanwhile, insiders bought 74,500 shares during the last quarter.

TeraGo Inc. (TSE:TGO - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$1.07 and traded as high as C$1.44. TeraGo shares last traded at C$1.40, with a volume of 8,851 shares changing hands.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets increased their price objective on shares of TeraGo from C$0.80 to C$1.25 and gave the stock a "sector perform" rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, TeraGo currently has an average rating of "Hold" and a consensus target price of C$1.25.

TeraGo Stock Down 2.8%

The stock has a fifty day moving average price of C$1.32 and a two-hundred day moving average price of C$1.07. The company has a market cap of C$54.65 million, a P/E ratio of -3.78, a price-to-earnings-growth ratio of -1.00 and a beta of 0.45. The company has a debt-to-equity ratio of 2,100.38, a current ratio of 1.26 and a quick ratio of 0.60.

TeraGo (TSE:TGO - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported C($0.08) EPS for the quarter. The firm had revenue of C$6.17 million for the quarter. TeraGo had a negative return on equity of 4,295.54% and a negative net margin of 65.17%. On average, research analysts expect that TeraGo Inc. will post -0.49 EPS for the current year.

Insider Activity at TeraGo

In related news, Director Martin Pinnes purchased 65,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of C$1.36 per share, with a total value of C$88,400.00. Following the acquisition, the director owned 299,574 shares of the company's stock, valued at C$407,420.64. This represents a 27.71% increase in their ownership of the stock. In the last quarter, insiders acquired 74,500 shares of company stock worth $101,855. Insiders own 1.30% of the company's stock.

About TeraGo

TERAGO provides managed network and security services to businesses across Canada ensuring highly secure, reliable, and redundant connectivity including private 5G wireless networks, Fixed Wireless access, fiber, and cable wireline network connectivity. As Canada's biggest mmWave spectrum holders, the Company possesses spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which it utilizes to provide secure, dedicated SLA guaranteed enterprise grade performance that is technology diverse from buried cables ensuring high availability connectivity services.

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