ADS-TEC Energy (NASDAQ:ADSE) Shares Down 5.8% – Here’s Why

ADS-TEC Energy PLC (NASDAQ:ADSE) was down 5.8% during mid-day trading on Tuesday . The stock traded as low as $11.51 and last traded at $11.81. Approximately 3,542 shares traded hands during trading, a decline of 96% from the average daily volume of 100,348 shares. The stock had previously closed at $12.54.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADSE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ADS-TEC Energy in a research note on Wednesday, October 8th. Wall Street Zen raised ADS-TEC Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

ADS-TEC Energy Stock Performance

The business’s 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $11.21.

Hedge Funds Weigh In On ADS-TEC Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Simplex Trading LLC bought a new stake in shares of ADS-TEC Energy in the 2nd quarter worth $83,000. Mirabella Financial Services LLP lifted its holdings in shares of ADS-TEC Energy by 7.0% during the second quarter. Mirabella Financial Services LLP now owns 16,480,469 shares of the company’s stock valued at $227,352,000 after purchasing an additional 1,076,423 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ADS-TEC Energy by 33.3% during the second quarter. JPMorgan Chase & Co. now owns 12,552 shares of the company’s stock valued at $173,000 after buying an additional 3,133 shares during the last quarter. First Trust Advisors LP increased its holdings in ADS-TEC Energy by 2.4% in the 2nd quarter. First Trust Advisors LP now owns 136,682 shares of the company’s stock worth $1,886,000 after buying an additional 3,183 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in ADS-TEC Energy in the 4th quarter worth about $53,000. 51.65% of the stock is owned by institutional investors.

ADS-TEC Energy Company Profile

ADS-TEC Energy PLC provide intelligent and decentralized energy storage systems in Europe and North America. Its portfolio of ecosystem platforms provides DC-based ultra-fast chargers for EVs on power limited grids, energy storage and management solutions for commercial and industrial applications, and energy storage and management solutions for residential sector coupling applications.