Tungray Technologies (NASDAQ:TRSG) Shares Down 7.1% – Here’s What Happened

Tungray Technologies Inc. (NASDAQ:TRSGGet Free Report) shares dropped 7.1% during trading on Friday . The stock traded as low as $1.4187 and last traded at $1.3940. 1,517 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 10,459 shares. The stock had previously closed at $1.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Tungray Technologies from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Tungray Technologies presently has an average rating of “Sell”.

Get Our Latest Stock Analysis on Tungray Technologies

Tungray Technologies Trading Down 7.1%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.59 and a current ratio of 1.94. The stock’s 50-day simple moving average is $1.47 and its two-hundred day simple moving average is $1.28.

Tungray Technologies (NASDAQ:TRSGGet Free Report) last released its earnings results on Thursday, April 23rd. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $4.09 million for the quarter.

Institutional Trading of Tungray Technologies

A hedge fund recently bought a new position in Tungray Technologies stock. T3 Companies LLC purchased a new position in Tungray Technologies Inc. (NASDAQ:TRSGFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 499,122 shares of the company’s stock, valued at approximately $557,000. T3 Companies LLC owned about 3.05% of Tungray Technologies at the end of the most recent quarter.

Tungray Technologies Company Profile

(Get Free Report)

Tungray Technologies Inc, through its subsidiaries, provides tooling and customized industrial manufacturing solutions in China and Singapore. It offers customized industrial test and tooling solutions; welding equipment manufacturing; and direct drive and linear direct current motors. The company also designs, develops, and manufactures non- standard equipment, such as automated assembly equipment, precision testing equipment, tooling fixtures, etc., as well as induction brazing and hardening equipment, and tooling fixtures; researches, develops, and sells intelligent robots and storage equipment; and installs industrial machinery and equipment, and mechanical engineering works.

Further Reading

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