SCHMID Group (NASDAQ:SHMD) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of SCHMID Group (NASDAQ:SHMD) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

SCHMID Group Stock Performance

Shares of NASDAQ:SHMD opened at $2.71 on Friday. The firm’s 50 day moving average is $3.73 and its two-hundred day moving average is $4.98. SCHMID Group has a 52 week low of $2.59 and a 52 week high of $10.65.

SCHMID Group (NASDAQ:SHMD) last announced its earnings results on Friday, August 14th. The company reported ($0.48) earnings per share for the quarter. The business had revenue of $26.25 million during the quarter.

Insider Activity at SCHMID Group

In related news, CFO Arthur Josef Hermann Schuetz sold 11,394 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $4.51, for a total value of $51,386.94. Following the completion of the transaction, the chief financial officer owned 42,118 shares in the company, valued at $189,952.18. This represents a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ralf Speth bought 35,000 shares of the stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $3.25 per share, for a total transaction of $113,750.00. Following the purchase, the director owned 236,311 shares in the company, valued at $768,010.75. This trade represents a 17.39% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 137,000 shares of company stock worth $432,440 in the last 90 days. Corporate insiders own 15.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHMD. Engineers Gate Manager LP bought a new position in SCHMID Group during the 2nd quarter valued at $182,000. Integrated Wealth Concepts LLC acquired a new position in shares of SCHMID Group during the 2nd quarter valued at $282,000. Citadel Advisors LLC bought a new stake in shares of SCHMID Group in the 2nd quarter worth $111,000. Finally, Corsair Capital Management L.P. bought a new stake in shares of SCHMID Group in the 1st quarter worth $148,000. 46.03% of the stock is currently owned by institutional investors.

About SCHMID Group

SCHMID Group N.V. (NASDAQ: SHMD) is a technology company that develops and manufactures production equipment and process solutions for the electronics, semiconductor and renewable energy industries. Its systems are used in the fabrication and treatment of printed circuit boards, semiconductor components and photovoltaic products.

The company’s product portfolio includes equipment for wet-chemical processing, cleaning, etching, coating, plating and other surface-treatment processes. SCHMID also provides integrated production systems, engineering and related services designed to support customers’ manufacturing operations and improve process efficiency.

Founded in Germany in 1864, SCHMID Group serves industrial customers internationally, with operations and business relationships spanning Europe, Asia and other global markets.