Sappi (OTCMKTS:SPPJY) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Shares of Sappi Ltd. (OTCMKTS:SPPJY) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.46 and traded as low as $1.15. Sappi shares last traded at $1.15, with a volume of 1,397 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Sappi from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Sappi Trading Down 1.3%

The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $1.43 and a two-hundred day moving average price of $1.46.

Sappi (OTCMKTS:SPPJY) last issued its earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sappi had a negative return on equity of 2.32% and a negative net margin of 5.31%.

About Sappi

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.