ADS-TEC Energy (NASDAQ:ADSE) Stock Price Down 7.6% – Here’s Why

ADS-TEC Energy PLC (NASDAQ:ADSE)’s stock price dropped 7.6% during trading on Monday . The company traded as low as $11.30 and last traded at $11.09. Approximately 15,278 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 99,259 shares. The stock had previously closed at $12.01.

Analysts Set New Price Targets

Separately, Roth Capital upgraded shares of ADS-TEC Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 19th.

ADS-TEC Energy Stock Up 9.7 %

The stock has a fifty day moving average price of $14.38 and a 200-day moving average price of $14.21.

Hedge Funds Weigh In On ADS-TEC Energy

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of ADS-TEC Energy by 132.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,079 shares of the company’s stock worth $32,000 after acquiring an additional 1,185 shares during the period. Bank of America Corp DE acquired a new position in ADS-TEC Energy during the 4th quarter worth approximately $53,000. GAMMA Investing LLC purchased a new position in shares of ADS-TEC Energy during the 4th quarter worth approximately $69,000. Renaissance Technologies LLC acquired a new stake in shares of ADS-TEC Energy in the 4th quarter valued at approximately $313,000. Finally, Geode Capital Management LLC boosted its stake in shares of ADS-TEC Energy by 15.0% in the third quarter. Geode Capital Management LLC now owns 31,801 shares of the company’s stock valued at $425,000 after buying an additional 4,154 shares in the last quarter. Hedge funds and other institutional investors own 51.65% of the company’s stock.

About ADS-TEC Energy

ADS-TEC Energy PLC provide intelligent and decentralized energy storage systems in Europe and North America. Its portfolio of ecosystem platforms provides DC-based ultra-fast chargers for EVs on power limited grids, energy storage and management solutions for commercial and industrial applications, and energy storage and management solutions for residential sector coupling applications.