Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Down – Here’s Why

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) shares gapped down prior to trading on Friday . The stock had previously closed at $103.02, but opened at $99.45. Commonwealth Bank of Australia shares last traded at $103.7950, with a volume of 3,111 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group set a $130.18 target price on shares of Commonwealth Bank of Australia and gave the stock a “sell” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Commonwealth Bank of Australia has a consensus rating of “Reduce” and a consensus price target of $130.18.

Commonwealth Bank of Australia Stock Performance

The company has a 50-day moving average of $103.76 and a two-hundred day moving average of $109.72. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.10 and a current ratio of 1.10.

Commonwealth Bank of Australia Company Profile

Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.

Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.