Ford Otomotiv Sanayi A.S. (OTCMKTS:FOVSY) Stock Price Down 5.4% – Here’s Why

Ford Otomotiv Sanayi A.S. (OTCMKTS:FOVSY)’s stock price fell 5.4% during mid-day trading on Monday. The company traded as low as $6.7250 and last traded at $6.7250. Approximately 1,004 shares traded hands during mid-day trading, an increase of 116% from the average session volume of 464 shares. The stock had previously closed at $7.11.

Ford Otomotiv Sanayi A.S. Price Performance

The company’s 50 day moving average is $8.12 and its two-hundred day moving average is $9.41.

Ford Otomotiv Sanayi A.S. Company Profile

Ford Otomotiv Sanayi A.Ş., commonly known as Ford Otosan, is a Turkey-based automotive manufacturer and a joint venture between Ford Motor Company and Koç Holding. Established in 1959, the company develops, manufactures, sells and services commercial vehicles, automotive components and related products.

Ford Otosan’s product portfolio includes commercial vans such as the Ford Transit, Transit Custom and Transit Courier, as well as trucks and other commercial vehicles. The company also produces diesel and electric powertrains, engines, transmissions and vehicle components, and provides engineering, research and development services for Ford’s global operations.

The company operates manufacturing and research facilities in Turkey, including plants in Kocaeli and Eskişehir, and expanded its European production footprint through the acquisition of Ford’s Craiova manufacturing facility in Romania.