Tungray Technologies (NASDAQ:TRSG) Shares Down 3.2% – Here’s What Happened

Tungray Technologies Inc. (NASDAQ:TRSG) dropped 3.2% during trading on Wednesday . The company traded as low as $1.24 and last traded at $1.2580. Approximately 1,756 shares traded hands during trading, a decline of 70% from the average daily volume of 5,892 shares. The stock had previously closed at $1.30.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Tungray Technologies from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Tungray Technologies Stock Performance

The company has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.20. 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 Trading of Tungray Technologies

A hedge fund recently bought a new stake in Tungray Technologies stock. T3 Companies LLC purchased a new stake in shares of Tungray Technologies Inc. (NASDAQ:TRSG) during the 4th quarter, according to the company in its most recent 13F filing with the 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 SEC.

About Tungray Technologies

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.