Basf (OTCMKTS:BASFY) Sees Unusually-High Trading Volume on Analyst Upgrade

Basf Se (OTCMKTS:BASFY) shares saw unusually-strong trading volume on Wednesday after Berenberg Bank upgraded the stock from a sell rating to a hold rating. Approximately 398,728 shares changed hands during trading, an increase of 129% from the previous session’s volume of 173,844 shares.The stock last traded at $14.59 and had previously closed at $15.03.

BASFY has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut shares of Basf from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Zacks Research downgraded shares of Basf from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, DZ Bank cut Basf from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Basf presently has an average rating of “Reduce”.

Basf Trading Down 1.8%

The business’s 50 day simple moving average is $13.55 and its 200 day simple moving average is $13.04. The company has a quick ratio of 1.01, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

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.