NIBE Industrier AB (publ) (OTCMKTS:NDRBF) Shares Down 0.8% – Here’s Why

NIBE Industrier AB (publ) (OTCMKTS:NDRBF) shares were down 0.8% during mid-day trading on Tuesday . The stock traded as low as $3.84 and last traded at $3.84. Approximately 771 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,025 shares. The stock had previously closed at $3.87.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an “underweight” rating on shares of NIBE Industrier AB (publ) in a report on Monday, November 17th. Pareto Securities raised shares of NIBE Industrier AB (publ) from a “hold” rating to a “buy” rating in a research report on Tuesday, October 14th. Finally, Barclays restated an “underweight” rating on shares of NIBE Industrier AB (publ) in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

NIBE Industrier AB (publ) Price Performance

The company’s 50-day moving average is $3.84 and its 200 day moving average is $4.17.

About NIBE Industrier AB (publ)

NIBE Industrier AB (publ) is a Sweden‐based industrial group specializing in sustainable climate and energy solutions. Founded in Markaryd in 1952, the company designs, manufactures and markets a broad portfolio of products that promote energy efficiency in residential, commercial and industrial settings. NIBE’s offerings span heat pumps, hot water solutions, electric heating elements, and ventilation systems under a variety of well‐known brand names.

The company operates through several business segments.