Schibsted ASA (OTCMKTS:SBSNY) Shares Down 10.7% – Should You Sell?

Shares of Schibsted ASA (OTCMKTS:SBSNY) traded down 10.7% on Tuesday . The company traded as low as $24.08 and last traded at $24.08. 42,489 shares changed hands during trading, an increase of 349% from the average session volume of 9,467 shares. The stock had previously closed at $26.97.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut Schibsted ASA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Schibsted ASA Price Performance

The stock’s fifty day moving average is $26.97 and its two-hundred day moving average is $30.26.

Schibsted ASA (OTCMKTS:SBSNY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $149.56 million for the quarter.

About Schibsted ASA

Schibsted ASA is a Norway-based media and technology group headquartered in Oslo. Established in 1839 with the founding of the newspaper Aftenposten, the company has evolved into a leading digital operator in classifieds, online marketplaces and news media. Schibsted leverages data-driven insights and technology platforms to connect buyers and sellers, as well as to deliver news and content to audiences across multiple channels.

In its media division, Schibsted publishes prominent Scandinavian news brands, including Aftenposten in Norway and Verdens Gang (VG), offering both print and digital editions.