Befesa (OTCMKTS:BFSAF) Shares Up 1.8% – Time to Buy?

Befesa S.A. (OTCMKTS:BFSAF)’s share price shot up 1.8% during trading on Monday . The company traded as high as $40.70 and last traded at $40.70. 9,100 shares traded hands during mid-day trading, an increase of 198% from the average session volume of 3,050 shares. The stock had previously closed at $40.00.

Wall Street Analyst Weigh In

A number of research firms recently commented on BFSAF. Morgan Stanley reaffirmed an “overweight” rating on shares of Befesa in a research note on Thursday, April 9th. Citigroup reaffirmed a “neutral” rating on shares of Befesa in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Befesa in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Befesa has a consensus rating of “Moderate Buy”.

Befesa Stock Up 1.8%

The stock has a 50 day moving average of $36.38 and a 200 day moving average of $34.18.

Befesa Company Profile

Befesa SA offers environmental recycling services to the steel and aluminum industries in European, Asian, and North American markets. It operates through two segments, Steel Dust Recycling Services and Aluminium Salt Slags Recycling Services. The Steel Dust Recycling Services segment collects and recycles crude steel dust and other steel residues generated in the production of crude, stainless, and galvanized steel; sells waelz oxide to zinc smelters; and treats crude steel dust. The Aluminium Salt Slags Recycling Services segment recycles salt slags; spent pot linings, a hazardous residue generated by primary aluminium producers; and recovers and sells salt, aluminium concentrate, and aluminium oxides.