Sappi (OTCMKTS:SPPJY) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.16 and traded as low as $0.7364. Sappi shares last traded at $0.7364, with a volume of 1,599 shares traded.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Sappi has an average rating of “Hold”.

Sappi Price Performance

The company’s 50 day moving average price is $0.93 and its 200-day moving average price is $1.16. The company has a market cap of $445.21 million, a price-to-earnings ratio of -0.66 and a beta of 0.55. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 1.35.

Sappi (OTCMKTS:SPPJY) last announced its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.40 billion. Sappi had a negative return on equity of 4.85% and a negative net margin of 12.70%. On average, equities research analysts forecast that Sappi Ltd. will post -0.18 earnings per share for the current fiscal year.

Sappi Company Profile

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.