Nestle (OTCMKTS:NSRGY) Shares Gap Down - Here's What Happened

Nestle SA (OTCMKTS:NSRGY - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $101.83, but opened at $99.05. Nestle shares last traded at $99.66, with a volume of 19,352 shares traded.

Analyst Upgrades and Downgrades

NSRGY has been the topic of a number of research reports. Morgan Stanley cut shares of Nestle from an "equal weight" rating to an "underweight" rating and set a $91.00 price objective on the stock. in a research note on Friday, April 4th. BNP Paribas downgraded Nestle from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada cut Nestle from an "outperform" rating to a "sector perform" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $91.00.

Nestle Stock Performance

The company's fifty day moving average price is $104.95 and its two-hundred day moving average price is $96.03. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.41.

Hedge Funds Weigh In On Nestle

A number of large investors have recently bought and sold shares of NSRGY. Ameriflex Group Inc. acquired a new stake in shares of Nestle during the 4th quarter worth $26,000. Core Alternative Capital purchased a new position in shares of Nestle in the 1st quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new position in shares of Nestle in the 4th quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Nestle during the fourth quarter valued at approximately $45,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Nestle by 232.8% in the 1st quarter. First Horizon Advisors Inc. now owns 446 shares of the company's stock valued at $45,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 0.61% of the company's stock.

Nestle Company Profile

Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Vittel, Buxton, Erikli, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Smarties, Aero, Nestlé Les Recettes de l'Atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.

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