Sappi (OTCMKTS:SPPJY) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Sappi Ltd. (OTCMKTS:SPPJY)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.37 and traded as low as $1.09. Sappi shares last traded at $1.09, with a volume of 1,411 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Sappi from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Sappi Stock Performance

The firm’s fifty day simple moving average is $1.23 and its 200 day simple moving average is $1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.18 and a quick ratio of 0.55.

Sappi (OTCMKTS:SPPJY) last issued its quarterly earnings data on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Sappi had a negative return on equity of 2.34% and a negative net margin of 5.31%.The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion.

About Sappi

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.