Resideo Technologies (NYSE:REZI) Shares Gap Down - Should You Sell?

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $15.67, but opened at $15.26. Resideo Technologies shares last traded at $15.13, with a volume of 74,810 shares traded.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut shares of Resideo Technologies from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $31.00 to $16.00 in a research report on Tuesday.

Resideo Technologies Stock Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.82. The firm's fifty day moving average price is $17.87 and its 200 day moving average price is $21.45. The firm has a market cap of $2.24 billion, a P/E ratio of 24.06 and a beta of 2.04.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.08). The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.84 billion. Resideo Technologies had a net margin of 1.69% and a return on equity of 11.12%. Sell-side analysts expect that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Resideo Technologies in the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in Resideo Technologies in the fourth quarter valued at about $30,000. Versant Capital Management Inc boosted its holdings in Resideo Technologies by 52.1% in the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after acquiring an additional 1,087 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Resideo Technologies by 293.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,600 shares of the company's stock valued at $60,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Resideo Technologies by 28.9% in the 4th quarter. Blue Trust Inc. now owns 3,241 shares of the company's stock worth $75,000 after purchasing an additional 726 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company's stock.

About Resideo Technologies

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.

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