Siemens Energy (OTCMKTS:SMEGF) Trading 6.1% Higher – Here’s What Happened

Siemens Energy AG (OTCMKTS:SMEGF)’s stock price was up 6.1% during mid-day trading on Monday . The company traded as high as $176.7450 and last traded at $174.5166. 1,875 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,374 shares. The stock had previously closed at $164.50.

Analysts Set New Price Targets

Several research firms recently commented on SMEGF. Barclays cut Siemens Energy to an “underweight” rating in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Siemens Energy in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Siemens Energy currently has a consensus rating of “Hold”.

Siemens Energy Stock Up 6.1%

The business’s fifty day simple moving average is $187.01 and its 200 day simple moving average is $182.86.

About Siemens Energy

Siemens Energy AG is a global energy technology company headquartered in Munich, Germany. Established in 2020 as a spin-off from Siemens AG’s Energy Management and Power and Gas divisions, the company develops and delivers equipment, solutions and services across the energy value chain. Its portfolio encompasses products for power generation, transmission and storage, serving utilities, independent power producers and industrial customers.

The company’s main business activities include the design and manufacture of gas and steam turbines, generators and compressors for conventional power plants, as well as high-voltage transformers, switchgear and grid stabilization equipment for power transmission networks.