Andersen Group (NYSE:ANDG) Sets New 52-Week High – What’s Next?

Andersen Group Inc. (NYSE:ANDG) hit a new 52-week high on Monday. The stock traded as high as $64.75 and last traded at $64.81, with a volume of 465,349 shares traded. The stock had previously closed at $63.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, September 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $56.00 price target on shares of Andersen Group in a research report on Friday, August 14th. Morgan Stanley upped their price target on Andersen Group from $27.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price objective on shares of Andersen Group from $38.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Finally, BMO Capital Markets initiated coverage on shares of Andersen Group in a research report on Tuesday, September 8th. They issued a “market perform” rating and a $58.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Andersen Group Stock Performance

The firm has a fifty day simple moving average of $55.67 and a 200-day simple moving average of $38.91. The company has a market capitalization of $7.19 billion and a PE ratio of -120.14.

Andersen Group (NYSE:ANDG) last announced its earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $217.66 million during the quarter. As a group, research analysts anticipate that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ANDG. Renaissance Technologies LLC acquired a new position in Andersen Group during the 1st quarter worth $1,686,000. Sei Investments Co. lifted its position in shares of Andersen Group by 96.3% during the first quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock worth $3,309,000 after purchasing an additional 59,693 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Andersen Group during the second quarter worth about $592,000. Corient Private Wealth LLC acquired a new position in Andersen Group in the fourth quarter worth about $357,000. Finally, Bank of America Corp DE grew its stake in Andersen Group by 512.0% in the first quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock worth $350,000 after purchasing an additional 10,752 shares in the last quarter.

Andersen Group Company Profile

Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors.