TSS (NASDAQ:TSSI) Shares Down 8.1% - Here's What Happened

Key Points

• TSS Inc. (NASDAQ:TSSI) shares fell by 8.1% during mid-day trading, reaching a low of $20.21 and closing at $20.32, following a downgrade from "buy" to "hold" by Wall Street Zen.
• The company reported $0.06 earnings per share for its last quarter, with revenues of $43.97 million and a net margin of 3.43%.
• Institutional investments in TSS showed activity, with Geode Capital Management increasing its stake by 167.1% and several other firms purchasing new positions in the company's stock.

TSS Inc. (NASDAQ:TSSI - Get Free Report) traded down 8.1% on Friday . The stock traded as low as $20.21 and last traded at $20.32. 1,721,930 shares traded hands during trading, a decline of 13% from the average session volume of 1,989,505 shares. The stock had previously closed at $22.11.

Analysts Set New Price Targets

Separately, Wall Street Zen cut TSS from a "buy" rating to a "hold" rating in a research report on Monday, June 23rd.

TSS Stock Down 5.9%

The company has a current ratio of 0.85, a quick ratio of 0.56 and a debt-to-equity ratio of 0.87. The firm has a market cap of $443.35 million, a price-to-earnings ratio of 49.22 and a beta of 1.67. The firm has a 50-day moving average of $24.27 and a two-hundred day moving average of $15.12.

TSS (NASDAQ:TSSI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share for the quarter. TSS had a return on equity of 111.91% and a net margin of 3.43%. The business had revenue of $43.97 million during the quarter.

Insider Transactions at TSS

In related news, SVP Kieran Brennan sold 10,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $13.07, for a total transaction of $130,700.00. Following the transaction, the senior vice president directly owned 323,000 shares in the company, valued at $4,221,610. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 18.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TSS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in TSS by 167.1% during the second quarter. Geode Capital Management LLC now owns 389,872 shares of the company's stock valued at $11,242,000 after acquiring an additional 243,910 shares during the period. Palisades Investment Partners LLC grew its stake in shares of TSS by 2.0% in the 1st quarter. Palisades Investment Partners LLC now owns 257,865 shares of the company's stock valued at $2,024,000 after purchasing an additional 5,142 shares during the period. Value Aligned Research Advisors LLC grew its stake in shares of TSS by 34.0% in the 1st quarter. Value Aligned Research Advisors LLC now owns 252,128 shares of the company's stock valued at $1,979,000 after purchasing an additional 63,982 shares during the period. NewEdge Advisors LLC grew its stake in shares of TSS by 536.7% in the 1st quarter. NewEdge Advisors LLC now owns 141,686 shares of the company's stock valued at $1,112,000 after purchasing an additional 119,432 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of TSS in the 1st quarter valued at approximately $1,087,000.

About TSS

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments.