Nordex (OTCMKTS:NRDXF) Stock Price Down 1.2% – Here’s Why

Nordex SE (OTCMKTS:NRDXF) dropped 1.2% during mid-day trading on Friday . The company traded as low as $45.25 and last traded at $45.25. Approximately 200 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 404 shares. The stock had previously closed at $45.80.

Analysts Set New Price Targets

NRDXF has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Nordex in a report on Thursday, July 30th. Citigroup raised Nordex from a “neutral” rating to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Nordex Trading Down 1.2%

The firm’s 50-day moving average price is $47.21 and its 200-day moving average price is $49.59.

About Nordex

Nordex SE is a Germany-based manufacturer of onshore wind turbines, specializing in the design, development and production of turbine technology for renewable energy projects. Headquartered in Rostock, the company offers a range of turbine platforms tailored to various wind conditions, from low to high wind sites. Its core activities encompass engineering, manufacturing and assembling turbine components, including rotor blades, nacelles and towers, as well as providing control systems to optimize power output.

In addition to its manufacturing business, Nordex provides comprehensive services for the lifecycle of wind farms.