NIBE Industrier AB (publ) (OTCMKTS:NDRBF) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

NIBE Industrier AB (publ) (OTCMKTS:NDRBF) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $4.50 and traded as high as $4.70. NIBE Industrier AB (publ) shares last traded at $4.70, with a volume of 500 shares traded.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays reissued an “underweight” rating on shares of NIBE Industrier AB (publ) in a research note on Monday, August 24th. Citigroup restated a “neutral” rating on shares of NIBE Industrier AB (publ) in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, NIBE Industrier AB (publ) has an average rating of “Sell”.

NIBE Industrier AB (publ) Stock Performance

The company has a fifty day simple moving average of $4.50 and a 200-day simple moving average of $4.13.

NIBE Industrier AB (publ) Company Profile

NIBE Industrier AB (publ) is a Sweden-based manufacturer of products and solutions for indoor climate, heating, cooling and energy efficiency. The company serves residential, commercial and industrial customers through three main business areas: Climate Solutions, Element and Stoves.

Its Climate Solutions business offers heat pumps, water heaters, heating systems, ventilation products and related climate-control technologies. The Element business develops and manufactures electric heating elements and components for applications such as appliances, industrial equipment and infrastructure.