Nordex (OTCMKTS:NRDXF) Shares Down 9.4% – What’s Next?

Nordex SE (OTCMKTS:NRDXF)’s stock price fell 9.4% during mid-day trading on Tuesday. The company traded as low as $41.01 and last traded at $41.01. Approximately 201 shares changed hands during trading, a decline of 47% from the average session volume of 377 shares. The stock had previously closed at $45.25.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NRDXF. Jefferies Financial Group restated a “buy” rating on shares of Nordex in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nordex in a research report on Friday. Finally, Citigroup upgraded shares of Nordex from a “neutral” rating to a “buy” rating in a report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nordex currently has a consensus rating of “Hold”.

Nordex Price Performance

The company’s 50-day simple moving average is $45.49 and its 200-day simple moving average is $49.19.

About Nordex

Nordex SE is a Germany-based manufacturer of onshore wind turbines. The company develops, produces and sells turbine systems for utility-scale wind farms, with product offerings designed for a range of wind conditions and site requirements. Its portfolio includes the Delta4000 series, along with related turbine components, digital monitoring tools and control systems.

In addition to equipment manufacturing, Nordex provides project-related services and long-term maintenance, repair and technical support for wind turbines.