Synovus Financial Corp bought a new position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,017 shares of the electronics maker’s stock, valued at approximately $290,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Quest Capital Management Inc. ADV acquired a new stake in shares of Advanced Energy Industries during the third quarter worth approximately $34,000. Strs Ohio acquired a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $33,000. Private Capital Group LLC boosted its holdings in shares of Advanced Energy Industries by 280.0% during the second quarter. Private Capital Group LLC now owns 646 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 476 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $62,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Advanced Energy Industries during the third quarter worth approximately $122,000. Institutional investors own 97.54% of the company’s stock.
AEIS has been the subject of several research reports. Cowen cut shares of Advanced Energy Industries from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $60.00 to $57.00 in a report on Friday, October 11th. DA Davidson upgraded shares of Advanced Energy Industries from a “neutral” rating to a “buy” rating in a report on Thursday, September 26th. BidaskClub upgraded shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. Citigroup upgraded shares of Advanced Energy Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $68.00 in a report on Monday, September 23rd. Finally, ValuEngine cut shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $65.50.
Shares of AEIS stock traded down $0.38 during trading on Monday, hitting $63.23. 352,464 shares of the company were exchanged, compared to its average volume of 292,646. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.87 and a current ratio of 5.83. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 15.10 and a beta of 1.52. The business’s 50-day simple moving average is $57.19 and its 200 day simple moving average is $54.34. Advanced Energy Industries, Inc. has a twelve month low of $38.74 and a twelve month high of $64.59.
In related news, CEO Yuval Wasserman sold 6,610 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $60.05, for a total transaction of $396,930.50. Following the transaction, the chief executive officer now owns 160,801 shares of the company’s stock, valued at $9,656,100.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion, measurement, and control solutions that transform electrical power into various usable forms. It offers process power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF matching networks and remote plasma sources for reactive gas applications and RF instrumentation.
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