NEXTDC (OTCMKTS:NXDCF) Stock Price Down 8.1% – Here’s What Happened

NEXTDC Limited (OTCMKTS:NXDCF) shares traded down 8.1% on Friday. The stock traded as low as $6.4850 and last traded at $6.6325. Approximately 310 shares were traded during trading, a decline of 95% from the average session volume of 6,792 shares. The stock had previously closed at $7.22.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on NEXTDC in a research note on Monday. They issued a “neutral” rating on the stock. New Street Research set a $11.00 price objective on shares of NEXTDC in a research report on Monday. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

NEXTDC Trading Down 8.1%

The company’s 50 day simple moving average is $8.84 and its 200-day simple moving average is $9.61.

NEXTDC Company Profile

NEXTDC Limited is an Australian data center operator that provides secure, high-availability infrastructure for businesses, government agencies, cloud providers and telecommunications companies. The company develops and operates data centers designed to support mission-critical information technology systems and digital services.

NEXTDC’s services include wholesale and retail colocation, data center space and power, interconnection and connectivity services, and access to major cloud and network providers.