Tucows (NASDAQ:TCX) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Tucows Inc. (NASDAQ:TCX) (TSE:TC)’s share price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $12.85 and traded as low as $8.52. Tucows shares last traded at $9.54, with a volume of 112,906 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Tucows from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Tucows Trading Up 9.5%

The business’s fifty day simple moving average is $10.35 and its 200-day simple moving average is $12.76. The firm has a market cap of $117.39 million, a P/E ratio of -1.39 and a beta of 0.92.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Quantinno Capital Management LP raised its position in shares of Tucows by 7.2% in the first quarter. Quantinno Capital Management LP now owns 19,867 shares of the information services provider’s stock worth $341,000 after buying an additional 1,339 shares in the last quarter. Versant Capital Management Inc purchased a new position in Tucows during the second quarter worth about $72,000. Blackhawk Capital Partners LLC grew its position in Tucows by 22.5% during the first quarter. Blackhawk Capital Partners LLC now owns 62,078 shares of the information services provider’s stock worth $1,065,000 after buying an additional 11,385 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Tucows in the 2nd quarter worth about $269,000. 73.64% of the stock is currently owned by hedge funds and other institutional investors.

About Tucows

Tucows Inc is an internet services company that provides domain name registration, domain portfolio management, and related digital services to businesses, resellers, and individual customers. Through its Tucows Domains business, the company supports the registration, transfer, renewal, and management of domain names and offers services such as website security, email, and privacy protection.

Tucows also operates Ting Internet, a fiber internet service provider serving select communities in the United States.