Solvay (OTC:SLVYY) Stock Price Up 1.7% – Here’s What Happened

Solvay SA (OTC:SLVYY) shares rose 1.7% during mid-day trading on Thursday . The stock traded as high as $3.00 and last traded at $2.97. Approximately 79,127 shares changed hands during trading, an increase of 91% from the average daily volume of 41,359 shares. The stock had previously closed at $2.92.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLVYY. Deutsche Bank Aktiengesellschaft downgraded Solvay from a “hold” rating to a “sell” rating in a research report on Monday, November 24th. Sanford C. Bernstein cut Solvay to a “market perform” rating in a research report on Thursday, January 8th. Finally, Citigroup reiterated a “neutral” rating on shares of Solvay in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Solvay has a consensus rating of “Reduce”.

Solvay Price Performance

The business has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.17.

About Solvay

Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The Materials segment offers specialty polymers, including aromatic polymers, high barrier polymers, and fluoropolymers for the electronics, automotive, aerospace, and healthcare industries; and composite materials for aerospace engineered materials market. The Chemicals segment produces and sells soda ash and sodium bicarbonate primarily to the flat and container glass industries, as well as for use in detergents, pharmaceutical, and feed and food industries; hydrogen peroxide for use primarily in the paper industry to bleach pulp, as well as chemicals, electronics, food, mining, and environment; and dispersible silica for tire manufacturers; and solvent solutions, phenols and derivatives, polyamide derivatives and smart, functional, and sustainable yarns and polymers.