SCHMID Group (NASDAQ:SHMD) Stock Price Down 10.3% – Here’s Why

SCHMID Group N.V. (NASDAQ:SHMD) shares fell 10.3% during trading on Thursday. The stock traded as low as $2.64 and last traded at $2.79. Approximately 1,153,239 shares traded hands during trading, a decline of 37% from the average session volume of 1,830,345 shares. The stock had previously closed at $3.11.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut SCHMID Group from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

SCHMID Group Price Performance

The stock has a 50 day moving average of $3.73 and a 200 day moving average of $4.98.

SCHMID Group (NASDAQ:SHMD) last released its earnings results on Friday, August 14th. The company reported ($0.48) EPS for the quarter. The business had revenue of $26.25 million for the quarter.

Insider Buying and Selling at SCHMID Group

In other SCHMID Group news, Director Anette Schmid bought 69,000 shares of the business’s stock in a transaction on Sunday, August 30th. The stock was purchased at an average cost of $3.16 per share, for a total transaction of $218,040.00. Following the completion of the purchase, the director directly owned 13,749,589 shares of the company’s stock, valued at approximately $43,448,701.24. This trade represents a 0.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ralf Speth bought 35,000 shares of SCHMID Group stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $113,750.00. Following the acquisition, the director owned 236,311 shares in the company, valued at approximately $768,010.75. This represents a 17.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 137,000 shares of company stock worth $432,440 over the last three months. Corporate insiders own 15.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new stake in shares of SCHMID Group in the 2nd quarter valued at approximately $182,000. Integrated Wealth Concepts LLC bought a new stake in shares of SCHMID Group during the 2nd quarter valued at approximately $282,000. Citadel Advisors LLC bought a new stake in shares of SCHMID Group during the 2nd quarter valued at approximately $111,000. Finally, Corsair Capital Management L.P. acquired a new position in SCHMID Group during the 1st quarter worth approximately $148,000. Institutional investors own 46.03% of the company’s stock.

About SCHMID Group

SCHMID Group N.V. (NASDAQ: SHMD) is a technology company that develops and manufactures production equipment and process solutions for the electronics, semiconductor and renewable energy industries. Its systems are used in the fabrication and treatment of printed circuit boards, semiconductor components and photovoltaic products.

The company’s product portfolio includes equipment for wet-chemical processing, cleaning, etching, coating, plating and other surface-treatment processes. SCHMID also provides integrated production systems, engineering and related services designed to support customers’ manufacturing operations and improve process efficiency.

Founded in Germany in 1864, SCHMID Group serves industrial customers internationally, with operations and business relationships spanning Europe, Asia and other global markets.