Schmitt Industries (NASDAQ:SMIT) Lowered to “Sell” at ValuEngine

Schmitt Industries (NASDAQ:SMIT) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Wednesday, ValuEngine reports.

Shares of Schmitt Industries stock opened at $3.64 on Wednesday. Schmitt Industries has a 52-week low of $1.87 and a 52-week high of $4.15. The company’s 50-day simple moving average is $3.68 and its 200-day simple moving average is $2.83. The firm has a market cap of $14.47 million, a price-to-earnings ratio of 3.68 and a beta of 0.71.

In other Schmitt Industries news, major shareholder Walter Brown Pistor sold 509,331 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $3.25, for a total value of $1,655,325.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 14.20% of the stock is owned by corporate insiders.

About Schmitt Industries

Schmitt Industries, Inc, together with its subsidiaries, designs, manufactures, and sells test and measurement products worldwide. The company's Balancer segment offers computer-controlled vibration detection, balancing, and process control systems. Its products comprise Schmitt Dynamic Balance System, which consists of a vibration sensor, a computer control unit, and a balance head; SB-5500, an optional acoustic emission monitoring system (AEMS) control card to monitor the AE signals generated on the grinding machine; process control cards to provide enhanced control of the grinding process; SB-2000, a compact manual balancing system; and AE-1000, an AE control platform, which reduces air machine grinding time.

Further Reading: The limitations of an equal weight rating

To view ValuEngine’s full report, visit ValuEngine’s official website.

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