Tucows (NASDAQ:TCX) Shares Cross Above 200 Day Moving Average – Here’s Why

Tucows Inc. (NASDAQ:TCX) (TSE:TC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.99 and traded as high as $24.94. Tucows shares last traded at $23.50, with a volume of 10,878 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Tucows in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Tucows Stock Down 0.5%

The stock has a market capitalization of $260.94 million, a price-to-earnings ratio of -2.62 and a beta of 0.97. The firm has a fifty day moving average of $21.51 and a 200-day moving average of $19.99.

Tucows (NASDAQ:TCX) (TSE:TC) last announced its earnings results on Thursday, November 6th. The information services provider reported ($1.42) earnings per share (EPS) for the quarter. The business had revenue of $98.56 million for the quarter.

Institutional Investors Weigh In On Tucows

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in Tucows by 69.3% in the third quarter. BNP Paribas Financial Markets now owns 1,346 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 551 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Tucows by 5.0% in the first quarter. Rhumbline Advisers now owns 11,840 shares of the information services provider’s stock worth $200,000 after buying an additional 563 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 acquiring an additional 1,726 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Tucows by 903.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,873 shares of the information services provider’s stock worth $72,000 after acquiring an additional 3,487 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tucows by 117.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,923 shares of the information services provider’s stock worth $128,000 after purchasing an additional 3,739 shares during the last quarter. Hedge funds and other institutional investors own 73.64% of the company’s stock.

About Tucows

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.