Adept Technology Downgraded to “Buy” at Dougherty & Co (ADEP)
Adept Technology (NASDAQ:ADEP) was downgraded by research analysts at Dougherty & Co from a “strong-buy” rating to a “buy” rating in a report released on Friday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
ADEP has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Adept Technology from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. They now have a $10.40 price target on the stock. Analysts at Lake Street Capital initiated coverage on shares of Adept Technology in a research note to investors on Monday, November 11th. They set a “buy” rating on the stock.
Shares of Adept Technology (NASDAQ:ADEP) traded down 11.07% on Friday, hitting $14.70. The stock had a trading volume of 501,910 shares. Adept Technology has a one year low of $2.65 and a one year high of $17.98. The stock’s 50-day moving average is $12.98 and its 200-day moving average is $7.55. The company’s market cap is $161.4 million.
In other Adept Technology news, major shareholder Austin & Greenhouse Da Marxe sold 100,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.83, for a total transaction of $1,683,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Adept Technology, Inc (NASDAQ:ADEP) provides robotics systems and services helping its customers in their assembly, handling, packaging, testing, warehousing, logistics and other automated processes, in both fixed repetitive and unstructured environments.
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