Sappi (OTCMKTS:SPPJY) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.43 and traded as low as $1.09. Sappi shares last traded at $1.09, with a volume of 37,968 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered Sappi from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sappi has an average rating of “Sell”.

Sappi Stock Performance

The company has a quick ratio of 0.63, a current ratio of 1.18 and a debt-to-equity ratio of 0.65. The stock’s 50 day simple moving average is $1.37 and its two-hundred day simple moving average is $1.43.

Sappi (OTCMKTS:SPPJY) last issued its quarterly earnings data on Wednesday, February 4th. The basic materials company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Sappi had a negative net margin of 5.31% and a negative return on equity of 2.34%.

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.