Sappi (OTCMKTS:SPPJY) Shares Pass Below 200-Day Moving Average – Here’s Why

Sappi Ltd. (OTCMKTS:SPPJY)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.00 and traded as low as $0.6355. Sappi shares last traded at $0.7044, with a volume of 19,796 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered Sappi from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Sappi Stock Down 6.9%

The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 1.35. The stock’s 50-day moving average price is $0.73 and its two-hundred day moving average price is $1.00. The stock has a market capitalization of $425.87 million, a PE ratio of -0.63 and a beta of 0.59.

Sappi (OTCMKTS:SPPJY) last posted its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. Sappi had a negative return on equity of 4.85% and a negative net margin of 12.70%. As a group, analysts expect that Sappi Ltd. will post -0.19 EPS for the current fiscal year.

About Sappi

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.