China Resources Beer (OTCMKTS:CRHKY) Upgraded to Hold at Zacks Investment Research

China Resources Beer (OTCMKTS:CRHKYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “China Resources Enterprise, Limited is engaged in retail, beverage, food processing, distribution, and property investment businesses. The retail business of the Company includes the operation of supermarket and logistics, retail stores and other stores for the distribution of traditional Chinese arts and crafts products, antiques, luxury goods, nutritious products, pharmaceutical products and general merchandise. Its beverage business provides breweries and purified water. The company’s food processing and distribution business engages in the research and development, production, processing, wholesale, retail, transportation, and international trading of food products, abattoir and livestock raising operations. It provides meat products and aquatic products. The company’s investment property business owns rental property portfolio for commercial, retail, industrial, and office use. China Resources Enterprise, Limited is based in Wanchai, Hong Kong. “

Shares of OTCMKTS CRHKY traded down $0.60 during midday trading on Tuesday, reaching $10.97. The company’s stock had a trading volume of 21,306 shares, compared to its average volume of 34,534. China Resources Beer has a fifty-two week low of $10.02 and a fifty-two week high of $18.95. The stock has a 50 day simple moving average of $11.63 and a 200-day simple moving average of $14.20.

About China Resources Beer (Get Rating)

China Resources Beer (Holdings) Company Limited, an investment holding company, manufactures, distributes, and sells beer products. The company offers its products under the Heineken, Li, Löwen Fruit Beer, Snow Xiao Pi Qi, Amstel, and Edelweiss brand names. As of March 24, 2022, it operated 65 breweries in 24 provinces, municipalities, and autonomous regions in Mainland China.

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