Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Down – Time to Sell?

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $103.03, but opened at $100.13. Commonwealth Bank of Australia shares last traded at $104.73, with a volume of 3,943 shares trading hands.

Analysts Set New Price Targets

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

Commonwealth Bank of Australia Stock Performance

The firm’s fifty day simple moving average is $106.11 and its 200 day simple moving average is $111.51. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.10 and a quick ratio of 1.10.

About Commonwealth Bank of Australia

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.