Tungray Technologies (NASDAQ:TRSG) Shares Down 3.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of 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 has a consensus rating of “Sell”.

Tungray Technologies Stock Down 3.6%

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.94 and a quick ratio of 1.59. The stock’s fifty day moving average is $1.41 and its 200 day moving average is $1.24.

Tungray Technologies (NASDAQ:TRSG) last issued its quarterly earnings data on Thursday, April 23rd. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $4.09 million during the quarter.

Hedge Funds Weigh In On Tungray Technologies

A hedge fund recently bought a new position in Tungray Technologies stock. T3 Companies LLC bought a new stake in shares of Tungray Technologies Inc. (NASDAQ:TRSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 499,122 shares of the company’s stock, valued at approximately $557,000. T3 Companies LLC owned about 3.05% of Tungray Technologies as of its most recent filing with the Securities and Exchange Commission.

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.