Befesa (OTC:BFSAF) Stock Price Up 5.1% – Here’s Why

Shares of Befesa S.A. (OTC:BFSAF) were up 5.1% during trading on Tuesday . The stock traded as high as $36.2794 and last traded at $36.2794. Approximately 120 shares were traded during trading, an increase of 20% from the average daily volume of 100 shares. The stock had previously closed at $34.53.

Wall Street Analyst Weigh In

Separately, Morgan Stanley restated an “overweight” rating on shares of Befesa in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Befesa Price Performance

The firm has a 50-day moving average price of $30.77 and a two-hundred day moving average price of $28.82.

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.