Tucows (NASDAQ:TCX) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Tucows Inc. (NASDAQ:TCX) shares have recently surpassed their 200-day moving average of $18.34, reaching a trading high of $20.88, indicating positive momentum in the stock price.
• The company reported a quarterly loss of ($1.41) earnings per share, despite generating $98.46 million in revenue.
• Insider trading showed CEO Elliot Noss sold 3,200 shares at an average price of $20.44, while hedge funds increased their positions, with 73.64% of the stock now owned by institutional investors.

Tucows Inc. (NASDAQ:TCX - Get Free Report) TSE: TC's stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.34 and traded as high as $20.88. Tucows shares last traded at $20.63, with a volume of 17,310 shares traded.

Tucows Stock Up 1.9%

The stock has a 50-day simple moving average of $20.15 and a 200-day simple moving average of $18.34. The firm has a market capitalization of $228.58 million, a PE ratio of -2.31 and a beta of 0.81.

Tucows (NASDAQ:TCX - Get Free Report) TSE: TC last announced its quarterly earnings results on Thursday, August 7th. The information services provider reported ($1.41) earnings per share for the quarter. The firm had revenue of $98.46 million during the quarter.

Insider Buying and Selling at Tucows

In other news, CEO Elliot Noss sold 3,200 shares of Tucows stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $20.44, for a total value of $65,408.00. Following the completion of the transaction, the chief executive officer directly owned 452,098 shares in the company, valued at approximately $9,240,883.12. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 12,000 shares of company stock valued at $252,366 in the last three months. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tucows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Tucows by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 202,248 shares of the information services provider's stock valued at $3,468,000 after buying an additional 1,985 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Tucows by 25.9% in the 4th quarter. Wells Fargo & Company MN now owns 4,213 shares of the information services provider's stock valued at $72,000 after acquiring an additional 867 shares during the last quarter. Barclays PLC lifted its stake in shares of Tucows by 10.9% in the 4th quarter. Barclays PLC now owns 12,625 shares of the information services provider's stock valued at $216,000 after acquiring an additional 1,240 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Tucows by 1.5% in the 4th quarter. Northern Trust Corp now owns 78,791 shares of the information services provider's stock valued at $1,350,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Tucows by 45.8% in the 4th quarter. Jane Street Group LLC now owns 19,901 shares of the information services provider's stock valued at $341,000 after acquiring an additional 6,255 shares during the last quarter. 73.64% of the stock is currently owned by hedge funds and other institutional investors.

About Tucows

Tucows Inc provides network access, domain name registration, email, mobile telephony, and other Internet services in North America and Europe. It operates in three segments: Ting, Wavelo and Tucows Domains. The Ting segment provides fiber and fixed wireless internet services. The Wavelo segment offers individual developer tools, subscription, billing management, network orchestration, and provisioning services.

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