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

Sappi Ltd. (OTCMKTS:SPPJY)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.16 and traded as low as $0.7364. Sappi shares last traded at $0.7364, with a volume of 1,599 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Sappi Stock Performance

The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The company has a market cap of $447.39 million, a P/E ratio of -0.67 and a beta of 0.55. The business has a fifty day moving average of $0.92 and a 200 day moving average of $1.15.

Sappi (OTCMKTS:SPPJY) last released its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion. Sappi had a negative net margin of 12.70% and a negative return on equity of 4.85%. On average, equities analysts predict that Sappi Ltd. will post -0.2 EPS for the current 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.