Nordex SE (OTCMKTS:NRDXF) Sees Significant Increase in Short Interest

Nordex SE (OTCMKTS:NRDXFGet Rating) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 1,631,700 shares, an increase of 31.1% from the April 15th total of 1,244,500 shares. Based on an average trading volume of 500 shares, the short-interest ratio is currently 3,263.4 days.

Several brokerages have weighed in on NRDXF. Citigroup downgraded Nordex from a “buy” rating to a “neutral” rating and upped their price target for the stock from €18.00 ($18.95) to €19.50 ($20.53) in a report on Friday, March 11th. Cheuvreux downgraded Nordex from a “hold” rating to a “reduce” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.75.

Shares of NRDXF traded down $2.35 during mid-day trading on Monday, reaching $11.49. The company’s stock had a trading volume of 100 shares, compared to its average volume of 588. Nordex has a 12-month low of $11.49 and a 12-month high of $25.08. The company’s 50 day moving average is $16.83 and its 200 day moving average is $16.27.

Nordex Company Profile (Get Rating)

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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