Thales (OTCMKTS:THLEF) Shares Down 5.1% – Should You Sell?

Thales S.A. (OTCMKTS:THLEF)’s share price traded down 5.1% during mid-day trading on Thursday. The company traded as low as $239.60 and last traded at $239.60. 41 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 350 shares. The stock had previously closed at $252.47.

Thales Stock Performance

The business has a 50-day simple moving average of $278.33 and a two-hundred day simple moving average of $276.14.

Institutional Investors Weigh In On Thales

A hedge fund recently raised its stake in Thales stock. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Thales S.A. (OTCMKTS:THLEF) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 542,420 shares of the company’s stock after acquiring an additional 1,574 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Thales were worth $27,973,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.76% of the company’s stock.

Thales Company Profile

Thales is a French technology and defense company that develops systems and services for the aerospace, defense, security, digital identity, transportation and space markets. Its offerings include avionics, air traffic management systems, radar and electronic warfare equipment, secure communications, cybersecurity solutions, digital identity technologies and satellite-related systems.

The company serves governments, armed forces, aerospace manufacturers, airlines, transportation operators, financial institutions and other commercial organizations.