Siemens Energy (OTCMKTS:SMNEY) Shares Down 29.1% – Here’s Why

Siemens Energy AG Unsponsored ADR (OTCMKTS:SMNEY) shares fell 29.1% during mid-day trading on Monday . The stock traded as low as $124.60 and last traded at $124.60. 1,288 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 178,514 shares. The stock had previously closed at $175.64.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SMNEY. Morgan Stanley reaffirmed an “overweight” rating on shares of Siemens Energy in a research note on Monday, April 27th. Citigroup reissued a “neutral” rating on shares of Siemens Energy in a research report on Thursday, February 12th. Finally, Zacks Research downgraded shares of Siemens Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Siemens Energy has an average rating of “Moderate Buy”.

Siemens Energy Stock Performance

The firm’s 50-day moving average price is $147.06 and its two-hundred day moving average price is $154.00. The firm has a market capitalization of $106.58 billion, a PE ratio of 51.07 and a beta of 1.97. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 0.23.

About Siemens Energy

Siemens Energy AG is a global energy technology company headquartered in Germany that provides equipment, systems and services across the power generation and transmission value chains. Established as an independent public company through a spin-off of Siemens AG’s energy businesses in 2020, Siemens Energy draws on a long industrial heritage to design, manufacture and service technologies used by utilities, industrial customers and the oil and gas sector.

The company’s product and service portfolio includes gas and steam turbines, generators, transformers and high-voltage transmission equipment as well as grid connection and power-conversion systems.