SCHMID Group (NASDAQ:SHMD) Rating Lowered to “Sell” at Wall Street Zen

SCHMID Group (NASDAQ:SHMD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

SCHMID Group Price Performance

SHMD opened at $2.71 on Friday. SCHMID Group has a 52-week low of $2.59 and a 52-week high of $10.65. The stock’s 50 day moving average price is $3.73 and its 200-day moving average price is $4.98.

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

Insiders Place Their Bets

In related news, Director Ralf Speth acquired 35,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $113,750.00. Following the acquisition, the director owned 236,311 shares of the company’s stock, valued at $768,010.75. This trade represents a 17.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anette Schmid bought 69,000 shares of the company’s stock in a transaction dated Sunday, August 30th. The stock was bought at an average cost of $3.16 per share, with a total value of $218,040.00. Following the completion of the transaction, the director owned 13,749,589 shares in the company, valued at approximately $43,448,701.24. This trade represents a 0.50% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 137,000 shares of company stock worth $432,440. 15.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SCHMID Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new position in SCHMID Group in the second quarter worth about $182,000. Integrated Wealth Concepts LLC purchased a new stake in SCHMID Group in the second quarter worth about $282,000. Citadel Advisors LLC purchased a new stake in SCHMID Group in the second quarter worth about $111,000. Finally, Corsair Capital Management L.P. bought a new stake in SCHMID Group during the 1st quarter valued at approximately $148,000. Hedge funds and other institutional investors own 46.03% of the company’s stock.

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.