StockNews.com Initiates Coverage on Nortech Systems (NASDAQ:NSYS)

Analysts at StockNews.com initiated coverage on shares of Nortech Systems (NASDAQ:NSYS) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the electronics maker’s stock.

Nortech Systems Stock Performance

Nortech Systems stock opened at $11.38 on Friday. Nortech Systems has a fifty-two week low of $9.00 and a fifty-two week high of $19.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.59. The stock has a market cap of $31.41 million, a P/E ratio of 7.34 and a beta of 0.46. The firm’s fifty day moving average price is $11.33 and its 200-day moving average price is $12.19.

Hedge Funds Weigh In On Nortech Systems

A hedge fund recently raised its stake in Nortech Systems stock. Renaissance Technologies LLC raised its holdings in shares of Nortech Systems Incorporated (NASDAQ:NSYS) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,799 shares of the electronics maker’s stock after acquiring an additional 3,540 shares during the period. Renaissance Technologies LLC owned about 1.95% of Nortech Systems worth $734,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.05% of the company’s stock.

About Nortech Systems

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.