Symrise (OTCMKTS:SYIEY) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Symrise AG Unsponsored ADR (OTCMKTS:SYIEY)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $21.62 and traded as high as $23.96. Symrise shares last traded at $23.74, with a volume of 63,105 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SYIEY shares. The Goldman Sachs Group raised Symrise from a “hold” rating to a “buy” rating in a report on Tuesday, February 10th. Jefferies Financial Group raised Symrise to a “hold” rating in a report on Wednesday, April 22nd. Finally, Zacks Research raised Symrise from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Symrise Trading Up 2.8%

The firm has a fifty day simple moving average of $21.62 and a 200-day simple moving average of $21.15.

About Symrise

Symrise AG is a global supplier of fragrances, flavors, cosmetic active ingredients and raw materials for the food and beverage, personal care and household industries. Headquartered in Holzminden, Germany, the company develops scent and taste solutions that are used in a wide range of consumer products, from perfumes and personal care formulations to soft drinks, confections and savory seasonings.

The company’s core business is organized into two divisions. The Flavors & Nutrition division creates taste concepts, food ingredients and texture solutions that enhance the sensory appeal and nutritional profile of a variety of foods and beverages.