Nestle (OTCMKTS:NSRGY) Stock Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Nestle's stock price has fallen below its 50-day moving average of $92.99, trading as low as $92.01 before closing at $92.43 on Thursday with a trading volume of 350,557 shares.
• Analyst ratings for Nestle's stock show mixed opinions, with one rating it a Strong Buy, four giving it a Hold, and one issuing a Sell recommendation, leading to a consensus target price of $91.00.
• Several hedge funds have recently made adjustments to their positions in Nestle, including new purchases and significant increases in existing holdings, indicating growing institutional interest.

Nestle SA (OTCMKTS:NSRGY - Get Free Report)'s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $92.99 and traded as low as $92.01. Nestle shares last traded at $92.43, with a volume of 350,557 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of Nestle from an "underperform" rating to a "hold" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.00.

Nestle Stock Performance

The company's 50 day simple moving average is $92.99 and its 200 day simple moving average is $99.55. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.51 and a current ratio of 0.82.

Hedge Funds Weigh In On Nestle

Hedge funds have recently made changes to their positions in the business. Ameriflex Group Inc. purchased a new position in shares of Nestle in the fourth quarter worth approximately $26,000. Core Alternative Capital purchased a new position in shares of Nestle in the first quarter worth approximately $29,000. First Horizon Advisors Inc. increased its position in shares of Nestle by 232.8% in the first quarter. First Horizon Advisors Inc. now owns 446 shares of the company's stock worth $45,000 after acquiring an additional 312 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Nestle in the first quarter worth approximately $95,000. Finally, Sawyer & Company Inc purchased a new position in shares of Nestle in the first quarter worth approximately $132,000. Institutional investors and hedge funds own 0.61% of the company's stock.

About Nestle

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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