Nordex (OTCMKTS:NRDXF) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Nordex SE (OTCMKTS:NRDXF) passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $44.69 and traded as low as $42.50. Nordex shares last traded at $42.50, with a volume of 204 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on NRDXF shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nordex in a report on Friday, October 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Nordex in a report on Thursday, October 15th. Finally, Citigroup reissued a “buy” rating on shares of Nordex in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Nordex Stock Performance

The company’s fifty day moving average price is $44.56 and its 200 day moving average price is $48.40.

About Nordex

Nordex SE is a Germany-based manufacturer and provider of onshore wind energy systems. The company develops, produces and sells wind turbines for utility-scale and other onshore wind projects, with a product portfolio designed for a range of wind conditions and site requirements.

In addition to turbine manufacturing, Nordex provides project development support, installation, commissioning and long-term service. Its offerings include turbine technology from the Delta4000 platform, as well as maintenance, monitoring, spare-parts and other lifecycle services intended to support customers throughout the operating life of their wind farms.

Nordex traces its origins to 1985, when the business was established in Denmark, and is headquartered in Hamburg, Germany.