ADS-TEC Energy (NASDAQ:ADSE) Trading 5% Higher - Still a Buy?

Key Points

• ADS-TEC Energy PLC shares rose 5% during mid-day trading on Friday, reaching a high of $9.64, despite a significant decline in trading volume.
• Wall Street Zen downgraded ADS-TEC Energy's rating from "hold" to "sell", although the stock still has a consensus rating of "Strong Buy" from other analysts.
• Institutional investors now own 51.65% of ADS-TEC Energy, with notable increases in stakes from various hedge funds, including a significant 1,420.5% increase from GAMMA Investing LLC.

ADS-TEC Energy PLC (NASDAQ:ADSE - Get Free Report) shares were up 5% on Friday . The company traded as high as $9.55 and last traded at $9.64. Approximately 7,663 shares changed hands during trading, a decline of 93% from the average daily volume of 105,361 shares. The stock had previously closed at $9.18.

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 investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has an average rating of "Strong Buy".

ADS-TEC Energy Price Performance

The firm's 50-day simple moving average is $11.28 and its 200 day simple moving average is $12.29.

Hedge Funds Weigh In On ADS-TEC Energy

Several large investors have recently modified their holdings of the business. Mirabella Financial Services LLP grew its stake in ADS-TEC Energy by 7.0% during the second 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 in the last quarter. GAMMA Investing LLC grew its stake in ADS-TEC Energy by 1,420.5% during the first quarter. GAMMA Investing LLC now owns 67,875 shares of the company's stock valued at $1,018,000 after acquiring an additional 63,411 shares in the last quarter. Simplex Trading LLC purchased a new position in ADS-TEC Energy during the second quarter valued at approximately $83,000. Bank of America Corp DE purchased a new position in ADS-TEC Energy during the fourth quarter valued at approximately $53,000. Finally, First Trust Advisors LP grew its stake in ADS-TEC Energy by 2.4% during the second quarter. First Trust Advisors LP now owns 136,682 shares of the company's stock valued at $1,886,000 after acquiring an additional 3,183 shares in the last quarter. Hedge funds and other institutional investors own 51.65% of the company's stock.

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.