Befesa (OTCMKTS:BFSAF) Stock Price Up 10.3% – What’s Next?

Befesa S.A. (OTCMKTS:BFSAF) shares were up 10.3% during mid-day trading on Friday . The company traded as high as $40.00 and last traded at $40.00. Approximately 1,500 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 800 shares. The stock had previously closed at $36.2794.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BFSAF shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Befesa in a report on Tuesday, May 5th. Citigroup reaffirmed a “neutral” rating on shares of Befesa in a report on Friday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Befesa in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Befesa Stock Up 10.3%

The stock has a 50-day simple moving average of $35.18 and a 200 day simple moving average of $33.26.

About Befesa

Befesa SA offers environmental recycling services to the steel and aluminum industries in European, Asian, and North American markets. It operates through two segments, Steel Dust Recycling Services and Aluminium Salt Slags Recycling Services. The Steel Dust Recycling Services segment collects and recycles crude steel dust and other steel residues generated in the production of crude, stainless, and galvanized steel; sells waelz oxide to zinc smelters; and treats crude steel dust. The Aluminium Salt Slags Recycling Services segment recycles salt slags; spent pot linings, a hazardous residue generated by primary aluminium producers; and recovers and sells salt, aluminium concentrate, and aluminium oxides.