Sappi (OTCMKTS:SPPJY) Shares Gap Down – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $0.87, but opened at $0.8461. Sappi shares last traded at $0.8461, with a volume of 725 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Sappi Trading Down 2.7%

The company has a debt-to-equity ratio of 0.94, a current ratio of 1.27 and a quick ratio of 0.66. The company has a market cap of $511.54 million, a price-to-earnings ratio of -0.62 and a beta of 0.62. The business has a 50 day simple moving average of $0.84 and a 200 day simple moving average of $0.89.

Sappi Company Profile

Sappi Limited is a global diversified woodfibre company that produces and sells paper, pulp and related biomaterials. Its portfolio includes graphic papers, packaging and specialty papers, and dissolving pulp used in products such as textiles, cellophane and other cellulose-based materials.

The company serves customers in publishing, commercial printing, packaging, labeling, food and beverage, consumer products, and industrial markets. Sappi also develops renewable, fibre-based alternatives and speciality cellulose products designed for applications that traditionally rely on fossil-based or non-renewable materials.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, the company adopted the Sappi name in 1973 and expanded internationally through acquisitions and the development of manufacturing operations.