SCHMID Group (NASDAQ:SHMD) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded SCHMID Group from “hold” to “sell,” citing a stock trading near its one-year low. Shares opened at $2.71, compared with 50-day and 200-day moving averages of $3.73 and $4.98.
• SCHMID Group reported a quarterly loss of $0.48 per share on revenue of $26.25 million.
• Company insiders bought 137,000 shares worth $432,440 over the past 90 days, while institutional investors own 46.03% of the stock.

SCHMID Group (NASDAQ:SHMD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

SCHMID Group Stock Performance

SCHMID Group stock opened at $2.71 on Friday. The stock's 50 day moving average price is $3.73 and its 200 day moving average price is $4.98. SCHMID Group has a 1-year low of $2.59 and a 1-year high of $10.65.

SCHMID Group (NASDAQ:SHMD - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.48) earnings per share (EPS) for the quarter. The business had revenue of $26.25 million during the quarter.

Insider Transactions at SCHMID Group

In related news, Director Anette Schmid acquired 69,000 shares of SCHMID Group stock in a transaction that occurred on Sunday, August 30th. The stock was purchased at an average price of $3.16 per share, for a total transaction of $218,040.00. Following the completion of the purchase, the director directly owned 13,749,589 shares of the company's stock, valued at approximately $43,448,701.24. This trade represents a 0.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ralf Speth acquired 35,000 shares of SCHMID Group stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average price of $3.25 per share, with a total value of $113,750.00. Following the purchase, the director directly owned 236,311 shares of the company's stock, valued at approximately $768,010.75. This trade represents a 17.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 137,000 shares of company stock valued at $432,440 in the last ninety days. 15.11% of the stock is currently owned by company insiders.

Institutional Trading of SCHMID Group

Institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in shares of SCHMID Group during the 2nd quarter worth about $182,000. Integrated Wealth Concepts LLC purchased a new stake in shares of SCHMID Group during the second quarter worth about $282,000. Citadel Advisors LLC purchased a new stake in shares of SCHMID Group during the second quarter worth about $111,000. Finally, Corsair Capital Management L.P. acquired a new position in shares of SCHMID Group in the first 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. is a Germany-based provider of equipment, production systems and manufacturing solutions for advanced industrial applications. Through its operating businesses, the company serves customers in the electronics, semiconductor, printed circuit board, photovoltaic, energy storage and glass industries.

Its offerings include process and production equipment, automation systems, integrated manufacturing lines and related engineering and service capabilities. SCHMID's technologies are designed to support production processes such as surface treatment, coating, cleaning, structuring and other specialized manufacturing steps used in high-technology products.

The company traces its origins to 1864 and has developed an international presence serving manufacturers in Europe, Asia and other global markets.

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