Prosus (OTCMKTS:PROSY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) saw strong trading volume on Tuesday. Approximately 2,591,367 shares changed hands during trading, an increase of 122% from the average daily volume of 1,168,032 shares. The stock last traded at $8.34 and had previously closed at $8.41.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PROSY shares. Deutsche Bank restated a “buy” rating on shares of Prosus in a research note on Thursday, July 23rd. Zacks Research downgraded shares of Prosus from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.10.

Prosus Price Performance

The stock’s 50 day moving average is $8.10 and its two-hundred day moving average is $9.18.

Prosus Company Profile

Prosus is a global consumer internet group that operates and invests in technology businesses. Its activities span online marketplaces and classifieds, food delivery, payments and fintech, and other digital services. Its portfolio includes businesses serving consumers and merchants across a range of markets. The company has operations and investments across Europe, Asia, Latin America and Africa. Prosus was formed from the international internet assets of South African group Naspers and became a separately listed company in 2019.