Befesa (OTC:BFSAF) Shares Down 11.2% – Time to Sell?

Befesa S.A. (OTC:BFSAF) was down 11.2% on Wednesday . The company traded as low as $30.6545 and last traded at $30.6545. Approximately 2,000 shares traded hands during mid-day trading, an increase of 1,900% from the average daily volume of 100 shares. The stock had previously closed at $34.53.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BFSAF shares. UBS Group assumed coverage on Befesa in a research note on Friday, September 19th. They issued a “buy” rating for the company. Citigroup reiterated a “neutral” rating on shares of Befesa in a research report on Friday, September 26th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Befesa in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Befesa Stock Performance

The business has a fifty day moving average of $28.32 and a 200 day moving average of $26.39.

Befesa Company Profile

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.