Nortech Systems (NASDAQ:NSYS) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Nortech Systems (NASDAQ:NSYS) from a buy rating to a hold rating in a research report report published on Friday morning.

Nortech Systems Trading Down 5.2 %

NASDAQ:NSYS traded down $0.68 during mid-day trading on Friday, hitting $12.42. 20,940 shares of the stock traded hands, compared to its average volume of 9,097. The company has a quick ratio of 1.41, a current ratio of 2.30 and a debt-to-equity ratio of 0.18. Nortech Systems has a 52 week low of $7.45 and a 52 week high of $19.15. The stock has a market capitalization of $34.24 million, a price-to-earnings ratio of 5.15 and a beta of 0.57. The firm’s 50 day moving average is $13.25 and its two-hundred day moving average is $13.16.

Nortech Systems (NASDAQ:NSYS) last released its earnings results on Thursday, August 8th. The electronics maker reported $0.05 EPS for the quarter. Nortech Systems had a return on equity of 21.32% and a net margin of 5.02%. The firm had revenue of $33.89 million for the quarter.

Institutional Investors Weigh In On Nortech Systems

An institutional investor recently raised its position in Nortech Systems stock. Renaissance Technologies LLC lifted its position in Nortech Systems Incorporated (NASDAQ:NSYS) by 7.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,799 shares of the electronics maker’s stock after purchasing an additional 3,540 shares during the period. Renaissance Technologies LLC owned 1.95% of Nortech Systems worth $734,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.05% of the company’s stock.

Nortech Systems Company Profile

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.