Tesco Corporation (TESO) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of TESO have fallen 3.22% to $7.81 after closing the day prior at $8.07. So far, the stock has traded as high as $8.22 and as low as $7.35. Today’s decline has come with about 61,595 shares changing hands, compared to an average 30-day volume of 194,371 for Tesco Corporation. The price is currently below the 30-day volume weighted average price of $7.88 for TESO.
The share depreciation gives the company a market capitalization of $374.48 million based upon 46.4 million shares outstanding. It also means that TESO has a price-to-book ratio of 1.08:1.
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 $7.81, shares of TESO are trading above their 200-day MA at $7.27 and above their 50-day MA at $7.03. 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 below them is typically regarded as bearish.
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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