NVE (NASDAQ:NVEC) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of NVE (NASDAQ:NVEC) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

Separately, ValuEngine raised shares of NVE from a hold rating to a buy rating in a research note on Wednesday, October 2nd.

NASDAQ:NVEC traded down $0.18 during mid-day trading on Tuesday, hitting $66.06. 489 shares of the stock traded hands, compared to its average volume of 36,604. The business’s 50-day moving average price is $66.69 and its 200 day moving average price is $73.90. The company has a market cap of $320.39 million, a PE ratio of 23.22 and a beta of 1.37. NVE has a 12-month low of $61.46 and a 12-month high of $104.30.

Large investors have recently modified their holdings of the stock. Quantamental Technologies LLC grew its stake in NVE by 161.6% during the second quarter. Quantamental Technologies LLC now owns 497 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 307 shares in the last quarter. Bank of Montreal Can grew its stake in NVE by 362.4% during the second quarter. Bank of Montreal Can now owns 504 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 395 shares in the last quarter. Denali Advisors LLC grew its stake in NVE by 6,002.3% during the third quarter. Denali Advisors LLC now owns 2,624 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 2,581 shares in the last quarter. WINTON GROUP Ltd purchased a new position in NVE during the second quarter valued at approximately $215,000. Finally, Morgan Stanley grew its stake in NVE by 53.7% during the second quarter. Morgan Stanley now owns 3,471 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 1,213 shares in the last quarter. 74.46% of the stock is owned by institutional investors.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

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