Tungray Technologies (NASDAQ:TRSG) Stock Price Down 11.7% – Here’s Why

Tungray Technologies Inc. (NASDAQ:TRSG)’s stock price fell 11.7% during trading on Monday. The company traded as low as $1.22 and last traded at $1.22. 1,137,605 shares traded hands during mid-day trading, an increase of 50,755% from the average session volume of 2,237 shares. The stock had previously closed at $1.3818.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Tungray Technologies in a research note on Friday, July 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tungray Technologies currently has a consensus rating of “Sell”.

Tungray Technologies Stock Performance

The firm’s fifty day moving average is $1.44 and its 200 day moving average is $1.38. The company has a current ratio of 1.94, a quick ratio of 1.59 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tungray Technologies stock. T3 Companies LLC purchased a new position in Tungray Technologies Inc. (NASDAQ:TRSG) during the 4th quarter, according to its most recent 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 3.05% of Tungray Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

About Tungray Technologies

Tungray Technologies Limited is a Singapore-based industrial technology company that provides custom automation solutions and manufacturing services for customers in the semiconductor and electronics industries. The company develops equipment and systems intended to support production, assembly, testing and other manufacturing processes.

Its offerings include the design and manufacture of industrial automation equipment, as well as precision machining and related engineering services. Tungray also supplies components and customized production solutions designed to meet the operating requirements of individual customers.

Through its subsidiaries, the company serves customers in Asian manufacturing markets, including Singapore and China.