ADS-TEC Energy (NASDAQ:ADSE) Trading 5% Higher - Here's What Happened

Key Points

• ADS-TEC Energy's share price climbed 5% to $10.78, despite a significant drop in trading volume, which was 67% lower than average.
• Wall Street Zen downgraded the stock from a "hold" to a "sell" rating, but it still maintains a consensus rating of "Strong Buy" from one analyst.
• Institutional investors control 51.65% of ADS-TEC Energy's stock, with significant increases in holdings from firms like GAMMA Investing LLC and JPMorgan Chase & Co..

ADS-TEC Energy PLC (NASDAQ:ADSE - Get Free Report)'s share price traded up 5% on Friday . The stock traded as high as $10.92 and last traded at $10.78. 34,916 shares were traded during trading, a decline of 67% from the average session volume of 106,143 shares. The stock had previously closed at $10.27.

Analysts Set New Price Targets

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

ADS-TEC Energy Stock Performance

The company's 50 day simple moving average is $11.07 and its two-hundred day simple moving average is $12.06.

Hedge Funds Weigh In On ADS-TEC Energy

A number of large investors have recently modified their holdings of ADSE. Bank of America Corp DE bought a new stake in shares of ADS-TEC Energy during the fourth quarter worth approximately $53,000. Simplex Trading LLC bought a new stake in ADS-TEC Energy in the second quarter valued at approximately $83,000. JPMorgan Chase & Co. increased its position in shares of ADS-TEC Energy by 33.3% during the second quarter. JPMorgan Chase & Co. now owns 12,552 shares of the company's stock worth $173,000 after acquiring an additional 3,133 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ADS-TEC Energy by 1,420.5% during the first quarter. GAMMA Investing LLC now owns 67,875 shares of the company's stock worth $1,018,000 after acquiring an additional 63,411 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of ADS-TEC Energy by 2.4% during the second quarter. First Trust Advisors LP now owns 136,682 shares of the company's stock worth $1,886,000 after acquiring an additional 3,183 shares in the last quarter. 51.65% of the stock is currently owned by institutional investors and hedge funds.

About ADS-TEC Energy

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.

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