Top Glove Co. Bhd. (OTCMKTS:TGLVY) Shares Gap Down – Here’s Why

Top Glove Co. Bhd. (OTCMKTS:TGLVY) gapped down prior to trading on Thursday . The stock had previously closed at $0.6585, but opened at $0.5988. Top Glove Co. Bhd. shares last traded at $0.5988, with a volume of 1,001 shares traded.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Top Glove Co. Bhd. to a “hold” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Top Glove Co. Bhd. Trading Down 18.6%

The company has a market capitalization of $1.23 billion and a P/E ratio of 0.59. The company’s 50 day moving average is $0.74 and its 200-day moving average is $0.64.

About Top Glove Co. Bhd.

Top Glove Co Bhd., founded in 1991 and headquartered in Klang, Malaysia, is among the world’s leading manufacturers of disposable gloves. Originally established to meet growing domestic demand, the company has expanded its operations over three decades to serve a global customer base. Its shares are listed on Bursa Malaysia, and its American depositary receipts trade under the symbol TGLVY on the OTC Markets.

The company’s core business is the design, production and marketing of a broad range of protective gloves, including latex, nitrile, vinyl and surgical-grade products.