Shares of Tesco Corp. (NASDAQ:TESO) gapped up before the market opened on Wednesday . The stock had previously closed at $7.16, but opened at $7.21. Tesco Corp. shares last traded at $7.45, with a volume of 180,621 shares changing hands.

Several analysts have commented on the stock. Zacks Investment Research raised shares of Tesco Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Seaport Global Securities reissued a “neutral” rating on shares of Tesco Corp. in a research report on Friday, August 19th. Finally, FBR & Co set a $9.00 price target on shares of Tesco Corp. and gave the company a “buy” rating in a research report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Tesco Corp. currently has an average rating of “Buy” and a consensus target price of $8.56.

The company’s market capitalization is $353.82 million. The company’s 50-day moving average is $7.17 and its 200 day moving average is $7.54.

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Tesco Corp. (NASDAQ:TESO) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. The firm earned $33.60 million during the quarter, compared to the consensus estimate of $32.48 million. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The company’s quarterly revenue was down 54.9% on a year-over-year basis. During the same period last year, the company earned ($0.21) EPS. On average, equities research analysts anticipate that Tesco Corp. will post ($1.53) earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Tesco Corp. by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 13,306 shares of the company’s stock valued at $115,000 after buying an additional 534 shares in the last quarter. Profund Advisors LLC increased its position in Tesco Corp. by 21.7% in the second quarter. Profund Advisors LLC now owns 15,406 shares of the company’s stock valued at $103,000 after buying an additional 2,748 shares in the last quarter. Citadel Advisors LLC purchased a new position in Tesco Corp. during the second quarter valued at $109,000. Arizona State Retirement System increased its position in Tesco Corp. by 1.5% in the first quarter. Arizona State Retirement System now owns 20,170 shares of the company’s stock valued at $174,000 after buying an additional 300 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Tesco Corp. by 17.8% in the second quarter. Louisiana State Employees Retirement System now owns 20,500 shares of the company’s stock valued at $137,000 after buying an additional 3,100 shares in the last quarter. 94.87% of the stock is owned by hedge funds and other institutional investors.

Tesco Corp. Company Profile

Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.

5 Day Chart for NASDAQ:TESO

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