Kongsberg Gruppen ASA (OTCMKTS:NSKFF) Shares Down 3.7% – Here’s What Happened

Kongsberg Gruppen ASA (OTCMKTS:NSKFF) was down 3.7% during trading on Friday. The company traded as low as $32.27 and last traded at $32.27. 299 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 3,692 shares. The stock had previously closed at $33.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NSKFF shares. Morgan Stanley cut Kongsberg Gruppen ASA from a “mixed” rating to an “underweight” rating in a report on Tuesday, July 7th. Barclays assumed coverage on Kongsberg Gruppen ASA in a research note on Monday, August 10th. They issued an “overweight” rating for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kongsberg Gruppen ASA has a consensus rating of “Hold”.

Kongsberg Gruppen ASA Price Performance

The firm’s fifty day moving average price is $33.42 and its 200-day moving average price is $34.34.

About Kongsberg Gruppen ASA

Kongsberg Gruppen ASA is a Norway-based technology company headquartered in Kongsberg. Its origins date to 1814, when Kongsberg Våpenfabrikk was established. The modern Kongsberg Gruppen was formed in 1987 following the restructuring of the former state-owned defense manufacturer and has since developed into an international supplier of technology for the defense, maritime, energy and digital industries.

Through its business areas, the company provides defense and aerospace systems such as missiles, remote weapon stations, command-and-control solutions, communications systems and space-related products.