TSS Target of Unusually Large Options Trading (NASDAQ:TSSI)

Key Points

• TSS Inc. experienced a surge in options trading, with a notable increase of 63% in call options, totaling 7,584 bought on Thursday compared to its average daily volume.
• The stock price fell 26.6% on the same day, closing at $21.10, with trading volume significantly up at nearly 4.9 million shares compared to average trading volumes.
• Following recent earnings reports, Wall Street analysts downgraded TSS shares from a "buy" rating to a "hold," signaling a cautious outlook amidst fluctuating performance metrics.

TSS Inc. (NASDAQ:TSSI - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Investors bought 7,584 call options on the stock. Thisrepresentsanincreaseof63% compared to the average volume of 4,649 call options.

Analyst Ratings Changes

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

TSS Stock Down 8.9%

NASDAQ:TSSI traded down $1.96 during midday trading on Friday, hitting $20.15. 4,163,462 shares of the company were exchanged, compared to its average volume of 2,999,572. The company has a fifty day simple moving average of $24.18 and a 200 day simple moving average of $15.11. TSS has a fifty-two week low of $2.12 and a fifty-two week high of $31.94. 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 company has a market capitalization of $504.15 million, a PE ratio of 55.97 and a beta of 1.67.

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

Insider Buying and Selling

In related news, SVP Kieran Brennan sold 5,000 shares of TSS stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $13.50, for a total transaction of $67,500.00. Following the sale, the senior vice president directly owned 318,000 shares in the company, valued at $4,293,000. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSSI. Palisades Investment Partners LLC purchased a new position in TSS during the 4th quarter worth $2,997,000. Geode Capital Management LLC grew its position in TSS by 167.1% during the 2nd quarter. Geode Capital Management LLC now owns 389,872 shares of the company's stock worth $11,242,000 after purchasing an additional 243,910 shares during the last quarter. Value Aligned Research Advisors LLC purchased a new position in TSS during the 4th quarter worth $2,231,000. Pacer Advisors Inc. purchased a new position in TSS during the 1st quarter worth $1,087,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in TSS during the 2nd quarter worth $3,483,000.

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.