Nortech Systems (NASDAQ:NSYS) Stock Passes Below 200-Day Moving Average – Here’s Why

Nortech Systems Incorporated (NASDAQ:NSYS) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.83 and traded as low as $9.90. Nortech Systems shares last traded at $10.03, with a volume of 3,164 shares.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Nortech Systems in a research report on Friday. They set a “hold” rating on the stock.

Nortech Systems Stock Up 2.9 %

The business has a 50-day simple moving average of $10.70 and a two-hundred day simple moving average of $11.81. The company has a market capitalization of $28.48 million, a price-to-earnings ratio of 6.66 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.59.

Nortech Systems (NASDAQ:NSYS) last issued its quarterly earnings results on Thursday, November 7th. The electronics maker reported ($0.27) earnings per share for the quarter. Nortech Systems had a return on equity of 12.76% and a net margin of 3.35%. The company had revenue of $31.41 million for the quarter.

Institutional Trading of Nortech Systems

A hedge fund recently raised its stake in Nortech Systems stock. Renaissance Technologies LLC raised its stake in Nortech Systems Incorporated (NASDAQ:NSYS) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,799 shares of the electronics maker’s stock after buying an additional 3,540 shares during the period. Renaissance Technologies LLC owned approximately 1.95% of Nortech Systems worth $734,000 at the end of the most recent reporting period. Institutional investors own 3.05% of the company’s stock.

About Nortech Systems

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.