Tucows (NASDAQ:TCX) Share Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• Tucows shares fell below their 200-day moving average, trading as low as $10.52 versus a 200-day average of $17.59. The stock last changed hands at $10.64 on volume of 41,146 shares.
• Analyst sentiment remains weak, as Weiss Ratings downgraded the stock from “sell (e+)” to “sell (d-)” and MarketBeat shows an overall average rating of “Sell.”
• The company remains small and heavily held by institutions, with a market cap of about $118.64 million and institutional investors owning 73.64% of the shares.

Tucows Inc. (NASDAQ:TCX - Get Free Report) TSE: TC's stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.59 and traded as low as $10.52. Tucows shares last traded at $10.64, with a volume of 41,146 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Tucows from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Tucows Price Performance

The firm has a 50-day moving average of $14.16 and a 200-day moving average of $17.59. The stock has a market cap of $118.64 million, a PE ratio of -1.50 and a beta of 0.89.

Hedge Funds Weigh In On Tucows

A number of hedge funds and other institutional investors have recently modified their holdings of TCX. BNP Paribas Financial Markets increased its holdings in Tucows by 69.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,346 shares of the information services provider's stock valued at $25,000 after acquiring an additional 551 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Tucows by 234.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,461 shares of the information services provider's stock valued at $49,000 after purchasing an additional 1,726 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Tucows by 500.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,600 shares of the information services provider's stock valued at $80,000 after purchasing an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Tucows by 903.4% during the third quarter. Russell Investments Group Ltd. now owns 3,873 shares of the information services provider's stock valued at $72,000 after purchasing an additional 3,487 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of Tucows during the fourth quarter valued at about $87,000. Institutional investors own 73.64% of the company's stock.

Tucows Company Profile

Tucows Inc NASDAQ: TCX is a diversified internet services company primarily known for its domain name registration and management business. Through its Domain Services division, Tucows operates leading reseller platforms such as OpenSRS and Enom, offering domain registration, SSL certificates, email hosting and related value-added services to web professionals, small businesses and enterprise partners worldwide. The company's platforms enable thousands of resellers to provide branded internet services to their customers, leveraging Tucows' infrastructure and expertise in the domain name system.

In addition to domain services, Tucows has built a growing portfolio of consumer-facing internet access offerings under the Ting brand.

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