SIKA (OTCMKTS:SXYAY) Sees Strong Trading Volume – Time to Buy?

SIKA AG – Unsponsored ADR (OTCMKTS:SXYAY) shares saw unusually-high trading volume on Monday. Approximately 837,414 shares traded hands during trading, an increase of 277% from the average daily volume of 222,208 shares. The stock last traded at $23.26 and had previously closed at $22.52.

Wall Street Analyst Weigh In

SXYAY has been the subject of a number of recent research reports. Citigroup restated a “buy” rating on shares of SIKA in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SIKA in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of SIKA in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, SIKA currently has a consensus rating of “Hold”.

SIKA Stock Performance

The firm has a 50 day simple moving average of $22.17 and a 200-day simple moving average of $20.21.

About SIKA

SIKA AG is a Switzerland-based specialty chemicals company that develops and manufactures products for the construction and industrial sectors. Its offerings include concrete admixtures, adhesives, sealants, waterproofing systems, roofing and flooring products, and materials used to protect and repair structures.

The company’s products support applications such as bonding, sealing, damping, reinforcing, and protecting buildings, infrastructure, and manufactured goods. Sika serves customers in construction and related industries around the world through operations spanning numerous countries.

Founded in 1910 by Kaspar Winkler, Sika has grown from a Swiss construction-products business into a global supplier of specialty chemicals.