Nordex (OTCMKTS:NRDXF) Stock Price Down 9.4% – Time to Sell?

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

Wall Street Analyst Weigh In

NRDXF has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nordex in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nordex in a research note on Thursday, July 30th. Finally, Citigroup upgraded shares of Nordex from a “neutral” rating to a “buy” rating in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Nordex Trading Down 9.4%

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