Thales (OTCMKTS:THLEF) Shares Down 5.1% – Should You Sell?

Thales S.A. (OTCMKTS:THLEF)’s share price dropped 5.1% during trading on Thursday. The stock traded as low as $239.60 and last traded at $239.60. Approximately 41 shares changed hands during trading, a decline of 88% from the average daily volume of 350 shares. The stock had previously closed at $252.47.

Thales Stock Down 5.1%

The stock has a fifty day simple moving average of $279.05 and a two-hundred day simple moving average of $276.34.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Thales stock. Ferguson Wellman Capital Management Inc. boosted its stake in Thales S.A. (OTCMKTS:THLEF) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 542,420 shares of the company’s stock after purchasing an additional 1,574 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Thales were worth $27,973,000 as of its most recent SEC filing. Institutional investors own 20.76% of the company’s stock.

Thales Company Profile

Thales is a French technology and defense company that develops systems and services for the aerospace, defense, security, digital identity, transportation and space markets. Its offerings include avionics, air traffic management systems, radar and electronic warfare equipment, secure communications, cybersecurity solutions, digital identity technologies and satellite-related systems.

The company serves governments, armed forces, aerospace manufacturers, airlines, transportation operators, financial institutions and other commercial organizations.