Nestle (OTCMKTS:NSRGY) Shares Gap Down – Here’s What Happened

Nestle SA (OTCMKTS:NSRGY) shares gapped down before the market opened on Monday . The stock had previously closed at $99.02, but opened at $96.00. Nestle shares last traded at $95.34, with a volume of 56,031 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NSRGY shares. Berenberg Bank raised shares of Nestle from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. Morgan Stanley reissued an “underweight” rating on shares of Nestle in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $91.00.

Nestle Stock Performance

The firm’s fifty day simple moving average is $98.52 and its 200 day simple moving average is $95.79. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.41.

Institutional Investors Weigh In On Nestle

A number of hedge funds and other institutional investors have recently made changes to their positions in NSRGY. Strengthening Families & Communities LLC acquired a new position in shares of Nestle in the 3rd quarter valued at $31,000. Boyd Watterson Asset Management LLC OH raised its position in shares of Nestle by 175.1% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 641 shares of the company’s stock worth $59,000 after acquiring an additional 408 shares during the period. First Horizon Advisors Inc. raised its position in shares of Nestle by 37.4% in the second quarter. First Horizon Advisors Inc. now owns 613 shares of the company’s stock worth $61,000 after acquiring an additional 167 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Nestle by 412.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 933 shares of the company’s stock worth $87,000 after acquiring an additional 751 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Nestle in the 3rd quarter valued at about $125,000. Institutional investors and hedge funds own 0.61% of the company’s stock.

About Nestle

Nestlé SA is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. Founded in 1866 by Henri Nestlé, the company has grown into a global consumer goods firm and its American depositary receipts trade in the United States under the OTCMKTS ticker NSRGY. Nestlé operates across a broad range of food and beverage categories and is widely recognized for its portfolio of consumer-facing brands and products.

The company’s main business activities include the manufacture, marketing and distribution of products in categories such as coffee and other beverages, bottled water, dairy and infant nutrition, prepared meals and culinary products, confectionery, and pet care.