Brennan Kieran, Senior Vice President at TSS, Inc. (NASDAQ:TSSI), has sold a significant portion of company stock, according to a recent SEC filing. On November 25, Kieran sold 46,675 shares of common stock at an average weighted price of $8.0954 per share. The transaction, which was executed in multiple trades at prices ranging from $8.0346 to $8.2500, totaled approximately $377,852.
Following this sale, Kieran retains ownership of 405,925 shares in TSS, Inc. The sale was conducted as a direct transaction, as indicated in the filing.
In other recent news, TSS, Inc. posted impressive financial results for its third quarter of 2024, with a remarkable surge in revenue and earnings per share (EPS). The company reported total revenues of $70.1 million, up 689% year-over-year, and a significant increase in net income, with EPS jumping from $0.01 to $0.10. This growth was mainly driven by TSS's procurement segment, which saw its revenues catapult to $60.5 million.
TSS also announced operational improvements and strategic partnerships, including an agreement to support generative AI infrastructure. The company plans to invest between $25 million and $30 million in a new facility to bolster its expanding AI services. In a significant development, TSS uplisted to the NASDAQ Capital Market and appointed Michael Fahy as an Independent (LON:IOG) Director.
However, the company anticipates slightly lower profitability in the fourth quarter of 2024 due to a smaller pipeline of procurement deals. Despite this, the company's outlook for the first half of 2025 aligns with its strong Q2 and Q3 2024 performance. These recent developments underscore TSS, Inc.'s commitment to growth and investor accessibility.
InvestingPro Insights
The recent stock sale by Brennan Kieran comes at a time when TSS, Inc. (NASDAQ:TSSI) is experiencing significant growth and market attention. According to InvestingPro data, TSSI has seen an impressive revenue growth of 199.3% over the last twelve months as of Q3 2024, with quarterly revenue growth soaring to 689.05% in Q3 2024. This remarkable growth trajectory is reflected in the stock's performance, with a staggering year-to-date price total return of 3396.3% as of the latest data.
Despite the strong growth, InvestingPro Tips highlight that TSSI is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.12. This suggests that the stock may still be undervalued compared to its growth prospects. Additionally, the company holds more cash than debt on its balance sheet, indicating a strong financial position.
However, investors should note that TSSI generally trades with high price volatility and is currently trading at a high Price/Book multiple of 25.69. These factors may contribute to the decision-making process of insiders like Kieran when considering stock transactions.
For those interested in a deeper analysis, InvestingPro offers 15 additional tips for TSSI, providing a comprehensive view of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.