Nortech Systems (NASDAQ:NSYS) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Nortech Systems Incorporated (NASDAQ:NSYS)’s share price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.49 and traded as low as $9.63. Nortech Systems shares last traded at $10.03, with a volume of 6,534 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Nortech Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings raised Nortech Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Nortech Systems Trading Up 2.4%

The firm’s 50-day simple moving average is $11.50 and its 200-day simple moving average is $13.47. The firm has a market capitalization of $29.45 million, a PE ratio of 28.67 and a beta of -0.12. The company has a quick ratio of 1.10, a current ratio of 1.78 and a debt-to-equity ratio of 0.06.

Nortech Systems (NASDAQ:NSYS) last released its quarterly earnings data on Wednesday, August 12th. The electronics maker reported $0.11 EPS for the quarter. Nortech Systems had a return on equity of 3.01% and a net margin of 0.83%. The firm had revenue of $33.54 million for the quarter.

Hedge Funds Weigh In On Nortech Systems

An institutional investor recently bought a new stake in Nortech Systems stock. BlackRock Inc. acquired a new stake in Nortech Systems Incorporated (NASDAQ:NSYS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,456 shares of the electronics maker’s stock, valued at approximately $70,000. BlackRock Inc. owned about 0.16% of Nortech Systems as of its most recent filing with the Securities & Exchange Commission. 3.05% of the stock is owned by institutional investors.

About Nortech Systems

Nortech Systems Incorporated is an integrated design and manufacturing solutions provider headquartered in Maple Plain, Minnesota. The company develops and produces complex electromechanical systems and components for original equipment manufacturers in the medical, aerospace and defense, and industrial markets.

Nortech’s services include product development and engineering, prototyping, printed circuit board assembly, cable and wire harness manufacturing, system-level assembly, testing, and supply-chain management.