Tesco Corporation (TESO) was one of the best performers amongst all companies listed in the basic materials sector on the NYSE and NASDAQ exchanges during trading on September 22, climbing 5.84% to wrap the day at $8.07 after closing the day prior at $7.63. Throughout the trading session, shares of TESO rose as high as $8.15 and dipped as low as $7.65. Today’s advance came with about 296,079 shares changing hands, compared to an average 30-day volume of 192,208 for Tesco Corporation. The price is currently below the 30-day volume weighted average price of $7.92 for TESO.
The share appreciation today gives the company a market capitalization of $353.83 million based upon 46.4 million shares outstanding. It also means that TESO has a price-to-book ratio of 1.02:1.
In the past 52 weeks, shares of TESO have traded as low as $5.125 and as high as $9.77. Technical traders will take note that at $8.07, shares of TESO are trading above their 200-day MA at $7.27 and above their 50-day MA at $7.0. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is TESO?
Tesco Corp is engaged in designing, manufacturing and service delivery of technology based solutions for the upstream energy industry. Its products and service offerings consist of equipment sales and services to drilling contractors. The company’s 1594 employees are led by CEO Fernando R. Assing from the corporate headquarters at 11330 Clay Road in Houston, TX.
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