Xtep International (OTCMKTS:XTEPY) Share Price Breaks Below 50 Day Moving Average – Time to Sell?

Shares of Xtep International Holdings Ltd. (OTCMKTS:XTEPY) crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $45.77 and traded as low as $44.25. Xtep International shares last traded at $44.25, with a volume of 37 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Xtep International from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Xtep International Price Performance

The business has a 50 day moving average price of $45.77 and a 200 day moving average price of $51.31.

About Xtep International

Xtep International Holdings Limited is a China-based sporting goods company that designs, develops, manufactures and markets athletic footwear, apparel and accessories. Its products are sold under the Xtep brand and are intended for sports, fitness and everyday lifestyle use.

The company operates a multi-brand portfolio that includes its core Xtep business as well as international sportswear brands such as Saucony and Merrell in selected Greater China markets. Xtep’s products are distributed through retail stores, e-commerce platforms and other sales channels, primarily serving consumers in mainland China and other markets across Asia.

Founded in 1999, Xtep International was listed on the Hong Kong Stock Exchange in 2008.