Clariant (OTCMKTS:CLZNY) Shares Up 12.7% – Time to Buy?

Clariant AG (OTCMKTS:CLZNY) shares rose 12.7% on Friday . The stock traded as high as $10.58 and last traded at $10.58. Approximately 620 shares traded hands during trading, a decline of 46% from the average daily volume of 1,144 shares. The stock had previously closed at $9.39.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group downgraded Clariant from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Citigroup cut Clariant from a “buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Jefferies Financial Group lowered shares of Clariant from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Clariant Price Performance

The business has a fifty day simple moving average of $9.20 and a 200 day simple moving average of $9.47.

About Clariant

Clariant AG is a Switzerland-based specialty chemicals company that traces its roots back to a spin-off from Sandoz in 1995. Headquartered in Muttenz near Basel, the firm develops, manufactures and markets a broad portfolio of chemical solutions for industries worldwide. While its primary listing is on the SIX Swiss Exchange, Clariant’s shares also trade OTC under the symbol CLZNY, reflecting its global investor reach.

The company operates through three core segments: Care Chemicals, Catalysis and Natural Resources.