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

Nestle SA (OTCMKTS:NSRGY - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $99.84, but opened at $92.59. Nestle shares last traded at $93.23, with a volume of 223,433 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NSRGY. BNP Paribas lowered Nestle from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Morgan Stanley cut Nestle from an "equal weight" rating to an "underweight" rating and set a $91.00 target price on the stock. in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nestle has an average rating of "Hold" and a consensus price target of $91.00.

Nestle Stock Performance

The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $101.44 and a 200 day simple moving average of $98.52.

Hedge Funds Weigh In On Nestle

A number of hedge funds have recently bought and sold shares of NSRGY. DF Dent & Co. Inc. lifted its stake in shares of Nestle by 193.6% in the fourth quarter. DF Dent & Co. Inc. now owns 7,192 shares of the company's stock worth $588,000 after buying an additional 4,742 shares in the last quarter. Elefante Mark B bought a new position in Nestle in the fourth quarter valued at about $1,527,000. Altrius Capital Management Inc lifted its stake in shares of Nestle by 3.5% in the 1st quarter. Altrius Capital Management Inc now owns 81,440 shares of the company's stock worth $8,239,000 after purchasing an additional 2,753 shares during the period. Minot DeBlois Advisors LLC bought a new position in Nestle in the fourth quarter worth approximately $822,000. Finally, GAMMA Investing LLC raised its position in Nestle by 136.4% in the first quarter. GAMMA Investing LLC now owns 4,128 shares of the company's stock worth $418,000 after acquiring an additional 2,382 shares during the period. 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.