Basf (OTCMKTS:BASFY) Shares Gap Up – Here’s What Happened

Basf Se (OTCMKTS:BASFY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $12.82, but opened at $13.20. Basf shares last traded at $12.89, with a volume of 11,539 shares.

Wall Street Analysts Forecast Growth

BASFY has been the topic of several recent research reports. Berenberg Bank downgraded Basf from a “hold” rating to a “sell” rating in a report on Tuesday, October 14th. Citigroup started coverage on Basf in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft cut Basf from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Zacks Research upgraded shares of Basf from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Basf Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.01. The stock has a fifty day simple moving average of $12.65 and a two-hundred day simple moving average of $12.68. The firm has a market capitalization of $45.98 billion, a P/E ratio of 128.81 and a beta of 0.85.

Basf Company Profile

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world’s largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF’s activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.