Maanshan Iron & Steel (OTCMKTS:MAANF) Trading Down 7.7% – Should You Sell?

Shares of Maanshan Iron & Steel Company Limited (OTCMKTS:MAANF) fell 7.7% on Wednesday . The stock traded as low as $0.30 and last traded at $0.30. 2,500 shares traded hands during trading, a decline of 67% from the average session volume of 7,616 shares. The stock had previously closed at $0.3250.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut shares of Maanshan Iron & Steel from a “buy” rating to a “sell” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Maanshan Iron & Steel Stock Down 7.7%

The stock has a 50-day simple moving average of $0.33 and a 200 day simple moving average of $0.31.

About Maanshan Iron & Steel

Maanshan Iron & Steel Company Limited (OTCMKTS: MAANF), commonly known as Masteel, is a leading steel producer headquartered in Maanshan, Anhui Province, China. As a state-owned enterprise and a subsidiary of China Baowu Steel Group, the company focuses on integrated iron and steel operations, spanning from raw material procurement to finished steel products. Maanshan Iron & Steel serves a broad customer base across construction, automotive, machinery, and energy industries.

The company’s core business activities encompass ironmaking, steelmaking, and rolling, supported by in-house coke ovens and sinter plants.