Insider Selling: Advanced Energy Industries Director Unloads 22,570 Shares of Stock (AEIS)
Advanced Energy Industries (NASDAQ:AEIS) Director Douglas Schatz sold 22,570 shares of Advanced Energy Industries stock on the open market in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $17.78, for a total transaction of $401,294.60. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Advanced Energy Industries (NASDAQ:AEIS) traded down 1.09% during mid-day trading on Wednesday, hitting $17.29. 614,563 shares of the company’s stock traded hands. Advanced Energy Industries has a 52-week low of $10.80 and a 52-week high of $22.94. The stock has a 50-day moving average of $18.28 and a 200-day moving average of $18.74. The company has a market cap of $688.2 million and a price-to-earnings ratio of 91.04.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.17. The company had revenue of $139.70 million for the quarter, compared to the consensus estimate of $139.54 million. During the same quarter last year, the company posted $0.24 earnings per share. Advanced Energy Industries’s revenue was up 20.7% compared to the same quarter last year. Analysts expect that Advanced Energy Industries will post $1.27 EPS for the current fiscal year.
A number of analysts have recently weighed in on AEIS shares. Analysts at TheStreet downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note to investors on Thursday, September 5th. Separately, analysts at Raymond James initiated coverage on shares of Advanced Energy Industries in a research note to investors on Wednesday, September 4th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Advanced Energy Industries from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 6th. They now have a $24.10 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Advanced Energy Industries presently has a consensus rating of “Hold” and an average target price of $22.22.
Advanced Energy Industries, Inc (NASDAQ:AEIS) designs, manufactures, sells, and supports power conversion products that transform power into various usable forms.
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