Tucows Inc. (NASDAQ:TCX) Sees Significant Growth in Short Interest

Tucows Inc. (NASDAQ:TCX) (TSE:TC) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 1,285,350 shares, an increase of 77.4% from the June 15th total of 724,475 shares. Based on an average daily trading volume, of 239,041 shares, the short-interest ratio is currently 5.4 days. Currently, 15.9% of the shares of the stock are sold short.

Tucows (NASDAQ:TCX) opened at 57.15 on Wednesday. The firm has a market capitalization of $600.59 million, a P/E ratio of 43.36 and a beta of 1.37. The firm’s 50-day moving average is $57.39 and its 200-day moving average is $52.23. Tucows has a 52-week low of $25.78 and a 52-week high of $63.20.

Tucows (NASDAQ:TCX) (TSE:TC) last released its quarterly earnings results on Tuesday, May 9th. The information services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.13. The firm had revenue of $69.60 million for the quarter, compared to the consensus estimate of $84.05 million. Tucows had a return on equity of 43.00% and a net margin of 6.55%. The business’s revenue for the quarter was up 55.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Tucows will post $2.20 earnings per share for the current year.

In other Tucows news, Director Rawleigh Hazen Iv Ralls sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $58.56, for a total transaction of $1,756,800.00. Following the transaction, the director now directly owns 115,997 shares in the company, valued at approximately $6,792,784.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Goldstein sold 9,876 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $58.76, for a total transaction of $580,313.76. Following the transaction, the vice president now owns 4,163 shares in the company, valued at $244,617.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,701 shares of company stock worth $10,773,117. 17.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in TCX. Goldman Sachs Group Inc. raised its position in Tucows by 15.1% in the first quarter. Goldman Sachs Group Inc. now owns 13,816 shares of the information services provider’s stock worth $705,000 after buying an additional 1,816 shares in the last quarter. Segantii Capital Management Ltd bought a new position in Tucows during the first quarter worth approximately $189,000. Bard Associates Inc. bought a new position in Tucows during the first quarter worth approximately $236,000. California Public Employees Retirement System raised its position in Tucows by 13.1% in the first quarter. California Public Employees Retirement System now owns 41,400 shares of the information services provider’s stock worth $2,113,000 after buying an additional 4,800 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Tucows during the first quarter worth approximately $249,000. Institutional investors own 29.91% of the company’s stock.

A number of research firms have issued reports on TCX. Zacks Investment Research upgraded shares of Tucows from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. BidaskClub upgraded shares of Tucows from a “hold” rating to a “buy” rating in a research report on Sunday.

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About Tucows

Tucows Inc is engaged in providing Internet services. The Company’s segments include Network Access Services and Domain Services. The Network Access Services segment includes mobile, fixed high-speed Internet access services, Internet hosting and network consulting services. The Domain Services segment wholesale and retail domain name registration services, value added services and portfolio services.

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