SCHMID Group (NASDAQ:SHMD) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of SCHMID Group (NASDAQ:SHMD) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

SCHMID Group Stock Up 2.6%

SCHMID Group stock opened at $2.78 on Friday. SCHMID Group has a twelve month low of $2.59 and a twelve month high of $10.65. The stock’s fifty day simple moving average is $3.72 and its 200-day simple moving average is $5.74.

SCHMID Group (NASDAQ:SHMD) last released its earnings results on Friday, August 14th. The company reported ($0.48) earnings per share (EPS) for the quarter. The company had revenue of $26.25 million during the quarter.

Insider Activity

In other news, CFO Arthur Josef Hermann Schuetz sold 11,394 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $4.51, for a total transaction of $51,386.94. Following the completion of the transaction, the chief financial officer directly owned 42,118 shares of the company’s stock, valued at approximately $189,952.18. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ralf Speth acquired 35,000 shares of the stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $3.25 per share, with a total value of $113,750.00. Following the completion of the transaction, the director owned 236,311 shares of the company’s stock, valued at approximately $768,010.75. This represents a 17.39% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 137,000 shares of company stock worth $432,440. 15.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHMD. Citadel Advisors LLC purchased a new stake in shares of SCHMID Group in the 2nd quarter valued at approximately $111,000. Corsair Capital Management L.P. acquired a new stake in shares of SCHMID Group in the 1st quarter valued at $148,000. Engineers Gate Manager LP acquired a new stake in shares of SCHMID Group in the 2nd quarter valued at $182,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of SCHMID Group during the 2nd quarter worth $282,000. Hedge funds and other institutional investors own 46.03% of the company’s stock.

SCHMID Group Company Profile

SCHMID Group N.V. (NASDAQ: SHMD) is a technology company that develops and manufactures production equipment and process solutions for the electronics, semiconductor and renewable energy industries. Its systems are used in the fabrication and treatment of printed circuit boards, semiconductor components and photovoltaic products.

The company’s product portfolio includes equipment for wet-chemical processing, cleaning, etching, coating, plating and other surface-treatment processes. SCHMID also provides integrated production systems, engineering and related services designed to support customers’ manufacturing operations and improve process efficiency.

Founded in Germany in 1864, SCHMID Group serves industrial customers internationally, with operations and business relationships spanning Europe, Asia and other global markets.