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

Key Points

• Tucows Inc. stock crossed above its 200-day moving average of $18.14, reaching a trading high of $21.16 before closing at $20.61.
• The company reported a loss of ($1.37) per share for the last quarter, with a total revenue of $94.61 million.
• Insider trading saw CEO Elliot Noss selling 3,200 shares, while institutional investors currently own 73.64% of Tucows' stock.

Tucows Inc. (NASDAQ:TCX - Get Free Report) TSE: TC's stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.14 and traded as high as $21.16. Tucows shares last traded at $20.61, with a volume of 10,344 shares changing hands.

Tucows Trading Down 2.0%

The stock has a market capitalization of $227.95 million, a P/E ratio of -2.24 and a beta of 0.83. The company's 50-day moving average is $20.25 and its two-hundred day moving average is $18.14.

Tucows (NASDAQ:TCX - Get Free Report) TSE: TC last issued its quarterly earnings data on Thursday, May 8th. The information services provider reported ($1.37) earnings per share for the quarter. The company had revenue of $94.61 million for the quarter.

Insider Buying and Selling

In other Tucows news, CEO Elliot Noss sold 3,200 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $20.44, for a total transaction of $65,408.00. Following the transaction, the chief executive officer owned 452,098 shares of the company's stock, valued at approximately $9,240,883.12. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 13,600 shares of company stock worth $278,576. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tucows

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in Tucows by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,213 shares of the information services provider's stock valued at $72,000 after buying an additional 867 shares during the period. MetLife Investment Management LLC acquired a new position in Tucows during the 1st quarter valued at about $80,000. Bank of America Corp DE increased its stake in Tucows by 34.2% during the 4th quarter. Bank of America Corp DE now owns 9,604 shares of the information services provider's stock valued at $165,000 after buying an additional 2,448 shares during the period. Rhumbline Advisers grew its stake in shares of Tucows by 5.0% in the 1st quarter. Rhumbline Advisers now owns 11,840 shares of the information services provider's stock worth $200,000 after purchasing an additional 563 shares during the last quarter. Finally, Barclays PLC grew 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 worth $216,000 after purchasing an additional 1,240 shares during the last quarter. Institutional investors and hedge funds own 73.64% of the company's stock.

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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