Schneider Electric (OTCMKTS:SBGSY) Shares Gap Down - Here's Why

Key Points

• Schneider Electric shares dropped sharply, opening at $61.28 versus a previous close of $68.40 and last trading at $60.69 on volume of 22,686 shares.
• Analyst opinions are mixed, with Santander and Zacks Research downgrading the stock while Barclays, Morgan Stanley, and Erste Group remained bullish. Despite this, the consensus rating remains “Buy”.
• The stock’s 50-day and 200-day moving averages are $67.31 and $63.58, respectively, while institutional investors own a relatively small 0.83% of outstanding shares.

Shares of Schneider Electric SE (OTCMKTS:SBGSY - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $68.40, but opened at $61.28. Schneider Electric shares last traded at $60.69, with a volume of 22,686 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Santander cut Schneider Electric from an "outperform" rating to a "neutral" rating in a research note on Tuesday, September 8th. Barclays restated an "overweight" rating on shares of Schneider Electric in a report on Monday, July 6th. Erste Group Bank upgraded Schneider Electric from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Zacks Research cut Schneider Electric from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Schneider Electric in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Schneider Electric presently has a consensus rating of "Buy".

Schneider Electric Stock Performance

The business has a 50 day moving average of $67.31 and a 200-day moving average of $63.58.

Institutional Trading of Schneider Electric

A number of institutional investors have recently modified their holdings of SBGSY. Notis McConarty Edward grew its stake in shares of Schneider Electric by 0.5% during the 2nd quarter. Notis McConarty Edward now owns 85,119 shares of the industrial products company's stock worth $5,548,000 after acquiring an additional 425 shares in the last quarter. Elefante Mark B lifted its position in shares of Schneider Electric by 10.0% in the second quarter. Elefante Mark B now owns 96,539 shares of the industrial products company's stock worth $6,292,000 after purchasing an additional 8,800 shares in the last quarter. Azimuth Capital Investment Management LLC bought a new stake in shares of Schneider Electric in the second quarter worth $11,623,000. Finally, Madison Asset Management LLC boosted its holdings in Schneider Electric by 2.7% during the second quarter. Madison Asset Management LLC now owns 246,582 shares of the industrial products company's stock worth $16,072,000 after purchasing an additional 6,591 shares during the last quarter. 0.83% of the stock is currently owned by institutional investors.

About Schneider Electric

Schneider Electric SE is a France-based global provider of energy management and industrial automation technologies. The company helps businesses, infrastructure operators, data centers, buildings and residential customers manage electrical power more efficiently, reliably and sustainably.

Its products and services include low- and medium-voltage electrical distribution equipment, circuit breakers, switches, power monitoring systems, uninterruptible power supplies, industrial control and automation systems, building management technologies, and related software and digital services.

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