ADS-TEC Energy (NASDAQ:ADSE) Shares Gap Down - Here's What Happened

Key Points

• ADS-TEC Energy's shares opened significantly lower at $11.18 after closing at $11.69, indicating a negative market reaction.
• Wall Street analysts have downgraded ADS-TEC Energy from a "hold" rating to a "sell" rating, reflecting growing concerns about the company's outlook.
• Institutional investors hold more than 51% of ADS-TEC Energy's stock, with notable increases in ownership from firms like Mirabella Financial Services and JPMorgan Chase.

ADS-TEC Energy PLC (NASDAQ:ADSE - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $11.69, but opened at $11.18. ADS-TEC Energy shares last traded at $11.58, with a volume of 3,768 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of ADS-TEC Energy from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has an average rating of "Strong Buy".

ADS-TEC Energy Stock Performance

The business's 50 day simple moving average is $11.80 and its two-hundred day simple moving average is $12.83.

Institutional Investors Weigh In On ADS-TEC Energy

Several hedge funds have recently added to or reduced their stakes in the business. Mirabella Financial Services LLP increased its position in ADS-TEC Energy by 7.0% in the 2nd quarter. Mirabella Financial Services LLP now owns 16,480,469 shares of the company's stock valued at $227,352,000 after acquiring an additional 1,076,423 shares during the period. Robert Bosch GmbH acquired a new position in shares of ADS-TEC Energy during the fourth quarter worth $162,273,000. First Trust Advisors LP grew its stake in shares of ADS-TEC Energy by 2.4% in the second quarter. First Trust Advisors LP now owns 136,682 shares of the company's stock worth $1,886,000 after purchasing an additional 3,183 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ADS-TEC Energy by 1,420.5% in the first quarter. GAMMA Investing LLC now owns 67,875 shares of the company's stock worth $1,018,000 after purchasing an additional 63,411 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of ADS-TEC Energy in the fourth quarter worth $621,000. 51.65% of the stock is currently owned by institutional investors and hedge funds.

ADS-TEC Energy Company Profile

ADS-TEC Energy PLC provide intelligent and decentralized energy storage systems in Europe and North America. Its portfolio of ecosystem platforms provides DC-based ultra-fast chargers for EVs on power limited grids, energy storage and management solutions for commercial and industrial applications, and energy storage and management solutions for residential sector coupling applications.