Melrose Industries (OTCMKTS:MLSPF) Stock Price Down 2.6% – Here’s Why

Melrose Industries PLC (OTCMKTS:MLSPF)’s stock price dropped 2.6% on Tuesday . The company traded as low as $8.4350 and last traded at $9.1310. Approximately 6,666 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 9,074 shares. The stock had previously closed at $9.3750.

Analyst Ratings Changes

Separately, Citigroup restated a “buy” rating on shares of Melrose Industries in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Melrose Industries presently has a consensus rating of “Moderate Buy”.

Melrose Industries Stock Performance

The business has a 50-day moving average price of $8.53 and a 200 day moving average price of $8.29.

Melrose Industries Company Profile

Melrose Industries plc is a London‐based industrial investment company specializing in the acquisition and performance improvement of manufacturing businesses. Since its founding in 2003 by Christopher Miller and David Roper, Melrose has focused on identifying underperforming assets in sectors such as aerospace, automotive and powder metallurgy, acquiring them with the aim of enhancing operational efficiency and driving long‐term value creation.

Melrose’s portfolio is anchored by three core divisions.