TSS (NASDAQ:TSSI) Trading 13% Higher - What's Next?

Key Points

• TSS Inc. shares surged 13% during mid-day trading, reaching a high of $28.74 before closing at $28.38, despite a decline in trading volume compared to average sessions.
• Wall Street Zen downgraded TSS from a "buy" rating to a "hold" rating on June 23rd, suggesting a potential shift in analyst sentiment towards the stock.
• Significant institutional investments occurred, with Wealth Enhancement Advisory Services LLC increasing its stake by 19.1% in the second quarter, indicative of continued interest in TSS among hedge funds.

Shares of TSS Inc. (NASDAQ:TSSI - Get Free Report) rose 13% during trading on Thursday . The company traded as high as $28.74 and last traded at $28.38. Approximately 1,009,128 shares were traded during trading, a decline of 47% from the average daily volume of 1,906,711 shares. The stock had previously closed at $25.11.

Wall Street Analysts Forecast Growth

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

TSS Price Performance

The company has a market capitalization of $712.82 million, a P/E ratio of 79.14 and a beta of 1.67. The business's 50-day simple moving average is $22.90 and its 200 day simple moving average is $14.68. The company has a current ratio of 0.85, a quick ratio of 0.56 and a debt-to-equity ratio of 0.87.

TSS (NASDAQ:TSSI - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.12 earnings per share (EPS) for the quarter. TSS had a return on equity of 121.89% and a net margin of 3.87%. The company had revenue of $98.96 million for the quarter.

Insider Activity

In other news, SVP Kieran Brennan sold 10,000 shares of TSS stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $13.07, for a total value of $130,700.00. Following the transaction, the senior vice president owned 323,000 shares of the company's stock, valued at $4,221,610. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 18.94% of the company's stock.

Hedge Funds Weigh In On TSS

Several hedge funds have recently made changes to their positions in TSSI. Palisades Investment Partners LLC acquired a new position in shares of TSS in the 4th quarter worth approximately $2,997,000. Value Aligned Research Advisors LLC acquired a new position in shares of TSS in the 4th quarter worth approximately $2,231,000. Pacer Advisors Inc. acquired a new position in shares of TSS in the 1st quarter worth approximately $1,087,000. Geode Capital Management LLC acquired a new position in shares of TSS in the 4th quarter worth approximately $1,539,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of TSS in the 2nd quarter worth approximately $3,483,000.

TSS Company Profile

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.