Xiaomi (OTCMKTS:XIACY) Shares Gap Up – Here’s What Happened

Xiaomi Corporation (OTCMKTS:XIACY)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $16.86, but opened at $17.7275. Xiaomi shares last traded at $17.90, with a volume of 86,903 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on XIACY. Zacks Research raised shares of Xiaomi from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. China Renaissance cut shares of Xiaomi from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Finally, Jefferies Financial Group raised shares of Xiaomi from a “moderate sell” rating to a “hold” rating in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Xiaomi Trading Up 0.7%

The business’s 50-day moving average price is $16.78.

Xiaomi Company Profile

Xiaomi Corporation is a China-based technology company founded in 2010 by Lei Jun. The company develops and sells consumer electronics and smart hardware, with smartphones as its best-known product category. Its devices include flagship, mid-range and entry-level smartphones marketed under the Xiaomi, Redmi and POCO brands.

Xiaomi also offers tablets, laptops, smart televisions, wearables, audio products, home appliances and other connected devices. Through its smart-home ecosystem, the company connects products such as cameras, routers, security systems and household appliances through software and internet-based services.