Why Tessco Shares Are Skyrocketing Today

TESSCO Technologies, Inc. TESS shares are trading higher by 26% at $7.26 Thursday morning after the company issued first-quarter sales guidance above estimates.

Tessco said it expects to report total revenues of approximately $105 million, which would represent composite growth of 9% year-over-year. Tessco also announced sales bookings for the first quarter grew 37% year-over-year.

Tessco is a United States-based value-added technology distributor, manufacturer and solutions provider. The company supplies wireless communications products for network infrastructure, site support, fixed and mobile broadband networks.

Tessco has a 52-week high of $9.25 and a 52-week low of $5.08.

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