Nestle (OTCMKTS:NSRGY) Shares Pass Below 50-Day Moving Average – Time to Sell?

Nestle SA (OTCMKTS:NSRGY) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $98.02 and traded as low as $93.72. Nestle shares last traded at $93.87, with a volume of 349,173 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NSRGY shares. Berenberg Bank upgraded shares of Nestle from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Morgan Stanley reissued an “underweight” rating on shares of Nestle in a research note on Monday, October 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $91.00.

Nestle Stock Down 1.0%

The company has a current ratio of 0.71, a quick ratio of 0.41 and a debt-to-equity ratio of 1.62. The company’s 50-day simple moving average is $98.02 and its 200 day simple moving average is $95.49.

Hedge Funds Weigh In On Nestle

Institutional investors and hedge funds have recently bought and sold shares of the company. Strengthening Families & Communities LLC purchased a new stake in shares of Nestle during the 3rd quarter valued at $31,000. Boyd Watterson Asset Management LLC OH increased its position in Nestle by 175.1% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 641 shares of the company’s stock valued at $59,000 after buying an additional 408 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Nestle by 37.4% in the second quarter. First Horizon Advisors Inc. now owns 613 shares of the company’s stock valued at $61,000 after buying an additional 167 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in Nestle by 412.6% in the third quarter. Salomon & Ludwin LLC now owns 933 shares of the company’s stock worth $87,000 after acquiring an additional 751 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Nestle during the third quarter worth about $125,000. 0.61% of the stock is owned by hedge funds and other institutional investors.

Nestle Company Profile

Nestlé SA is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. Founded in 1866 by Henri Nestlé, the company has grown into a global consumer goods firm and its American depositary receipts trade in the United States under the OTCMKTS ticker NSRGY. Nestlé operates across a broad range of food and beverage categories and is widely recognized for its portfolio of consumer-facing brands and products.

The company’s main business activities include the manufacture, marketing and distribution of products in categories such as coffee and other beverages, bottled water, dairy and infant nutrition, prepared meals and culinary products, confectionery, and pet care.