NIBE Industrier AB (publ) (OTCMKTS:NDRBF) Shares Down 7.4% – Here’s Why

NIBE Industrier AB (publ) (OTCMKTS:NDRBF)’s share price dropped 7.4% on Monday . The company traded as low as $3.70 and last traded at $3.70. Approximately 1,000 shares were traded during trading, a decline of 14% from the average daily volume of 1,167 shares. The stock had previously closed at $3.9950.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NDRBF. Barclays reissued an “underweight” rating on shares of NIBE Industrier AB (publ) in a research note on Wednesday, December 3rd. Morgan Stanley reiterated an “underweight” rating on shares of NIBE Industrier AB (publ) in a report on Monday, November 17th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

NIBE Industrier AB (publ) Stock Performance

The company’s 50 day moving average is $3.94 and its 200-day moving average is $3.95.

About NIBE Industrier AB (publ)

NIBE Industrier AB (publ) is a Sweden?based industrial group specializing in sustainable climate and energy solutions. Founded in Markaryd in 1952, the company designs, manufactures and markets a broad portfolio of products that promote energy efficiency in residential, commercial and industrial settings. NIBE’s offerings span heat pumps, hot water solutions, electric heating elements, and ventilation systems under a variety of well?known brand names.

The company operates through several business segments.