Nordex SE (OTCMKTS:NRDXF – Get Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,244,500 shares, a decrease of 21.4% from the March 31st total of 1,582,900 shares. Based on an average daily volume of 800 shares, the days-to-cover ratio is currently 1,555.6 days.
Separately, Citigroup lowered shares of Nordex from a “buy” rating to a “neutral” rating and upped their price objective for the company from €18.00 ($18.95) to €19.50 ($20.53) in a report on Friday, March 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.75.
NRDXF stock traded down $0.67 during mid-day trading on Tuesday, hitting $13.84. 156 shares of the company were exchanged, compared to its average volume of 619. Nordex has a 12-month low of $13.88 and a 12-month high of $29.69. The business has a fifty day simple moving average of $17.35 and a 200-day simple moving average of $16.54.
Nordex SE, together with its subsidiaries, develops, manufactures, and distributes multi-megawatt onshore wind turbines worldwide. It operates through Projects and Services segments. The company provides project development services, as well as acquires rights and creates the infrastructure required to construct wind power systems at suitable locations.
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