Tungray Technologies (NASDAQ:TRSG) Stock Price Down 3.6% – Here’s Why

Shares of Tungray Technologies Inc. (NASDAQ:TRSG) dropped 3.6% on Thursday . The stock traded as low as $1.38 and last traded at $1.4660. Approximately 51,590 shares traded hands during trading, an increase of 725% from the average session volume of 6,256 shares. The stock had previously closed at $1.52.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Tungray Technologies presently has an average rating of “Sell”.

Tungray Technologies Price Performance

The company has a fifty day moving average price of $1.41 and a two-hundred day moving average price of $1.25. The company has a quick ratio of 1.59, a current ratio of 1.94 and a debt-to-equity ratio of 0.07.

Tungray Technologies (NASDAQ:TRSG) last posted its quarterly earnings results on Thursday, April 23rd. The company reported ($0.02) EPS for the quarter. The firm had revenue of $4.09 million during the quarter.

Hedge Funds Weigh In On Tungray Technologies

A hedge fund recently bought a new stake in Tungray Technologies stock. T3 Companies LLC acquired a new position in Tungray Technologies Inc. (NASDAQ:TRSG) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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

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.