Taylor Devices (NASDAQ:TAYD) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of Taylor Devices, Inc. (NASDAQ:TAYD) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $48.11 and traded as low as $41.53. Taylor Devices shares last traded at $41.62, with a volume of 5,849 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Taylor Devices from a “buy” rating to a “strong-buy” rating in a report on Monday, November 18th.

Taylor Devices Price Performance

The firm has a 50-day moving average price of $45.12 and a 200 day moving average price of $48.06. The company has a market cap of $128.97 million, a price-to-earnings ratio of 14.26 and a beta of 1.03.

Hedge Funds Weigh In On Taylor Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in Taylor Devices by 0.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 134,981 shares of the industrial products company’s stock worth $6,738,000 after buying an additional 871 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Taylor Devices in the 3rd quarter worth approximately $70,000. FMR LLC increased its position in shares of Taylor Devices by 1,138.6% during the 3rd quarter. FMR LLC now owns 1,796 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 1,651 shares during the last quarter. Rhumbline Advisers purchased a new position in Taylor Devices in the second quarter valued at approximately $86,000. Finally, BNP Paribas Financial Markets raised its position in shares of Taylor Devices by 261.3% in the third quarter. BNP Paribas Financial Markets now owns 3,096 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 2,239 shares during the period. Institutional investors and hedge funds own 17.62% of the company’s stock.

About Taylor Devices

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.