2023-09-29 11:00:47 ET
Badger Meter (NYSE: BMI) stock slumped 5.6% through 10:25 a.m. ET this morning after receiving a downgrade to sell from investment bank Northcoast.
According to the analyst, Badger Meter stock, which cost more than $155 a share just last night, is likely to lose 23% of its value and fall to $120 per share within a year.
So why exactly did Northcoast downgrade Badger Meter stock? That's hard to say. Although two separate ratings watchers -- StreetInsider and TheFly -- confirm that the downgrade happened, neither reporter gave any further details on Northcoast's reasoning. But I think we can guess.
For further details see:
Why Badger Meter Stock Slumped 5 Percent Today