Advent Technologies (NASDAQ:ADN) Stock Price Down 13.8% – Here’s Why

Advent Technologies Holdings, Inc. (NASDAQ:ADN) dropped 13.8% on Monday . The company traded as low as $4.44 and last traded at $4.49. Approximately 238,213 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,600,764 shares. The stock had previously closed at $5.21.

Advent Technologies Trading Down 13.8%

The stock has a market capitalization of $11.99 million, a price-to-earnings ratio of -0.17 and a beta of 0.82. The stock’s 50 day moving average is $2.72 and its two-hundred day moving average is $3.14.

Advent Technologies (NASDAQ:ADN) last announced its earnings results on Tuesday, August 12th. The company reported ($1.42) earnings per share for the quarter.

Hedge Funds Weigh In On Advent Technologies

A hedge fund recently raised its stake in Advent Technologies stock. Geode Capital Management LLC increased its stake in Advent Technologies Holdings, Inc. (NASDAQ:ADN) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,239 shares of the company’s stock after purchasing an additional 2,723 shares during the period. Geode Capital Management LLC owned approximately 0.77% of Advent Technologies worth $101,000 as of its most recent filing with the Securities and Exchange Commission. 17.52% of the stock is owned by institutional investors.

About Advent Technologies

Advent Technologies Holdings, Inc, an advanced materials and technology development company, operates in the fuel cell and hydrogen technology markets in North America, Europe, and Asia. It develops, manufactures, and assembles fuel cell systems and critical components that determine the performance of hydrogen fuel cells and other energy systems.