Itafos (OTCMKTS:MBCF) Shares Down 0.4% – Should You Sell?

Itafos Inc. (OTCMKTS:MBCF) shares dropped 0.4% on Wednesday . The stock traded as low as $2.2420 and last traded at $2.28. Approximately 40,416 shares changed hands during trading, an increase of 364% from the average daily volume of 8,705 shares. The stock had previously closed at $2.2901.

Itafos Stock Performance

The company has a 50 day simple moving average of $2.19 and a 200 day simple moving average of $2.16.

About Itafos

Itafos Inc is a phosphate-based fertilizer company focused on the acquisition, development and operation of phosphate mines and integrated fertilizer facilities. The company’s primary activities include the mining of phosphate rock, the production of phosphoric acid and sulfuric acid, and the manufacture of a range of phosphate-based fertilizers such as monoammonium phosphate (MAP), diammonium phosphate (DAP) and single superphosphate (SSP). Itafos aims to leverage vertically integrated assets to enhance efficiency in the supply chain and ensure consistent quality for its customers.

Headquartered in Boca Raton, Florida, Itafos maintains its core operating assets in Brazil, with key projects including the Arraias phosphate complex in the state of Tocantins and the recently acquired Catalão and Cajati fertilizer operations in Goiás and São Paulo.