Bank of East Asia (OTCMKTS:BKEAY) Shares Gap Up - Here's Why

Key Points

• The Bank of East Asia's shares gapped up from a previous close of $1.34 to open at $1.55, showing a 15.5% increase.
• Goldman Sachs has downgraded Bank of East Asia to a "sell" rating in a recent research report.
• The stock is currently performing above its 50-day moving average of $1.48 and 200-day moving average of $1.39.

The Bank of East Asia Ltd. (OTCMKTS:BKEAY - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $1.34, but opened at $1.55. Bank of East Asia shares last traded at $1.55, with a volume of 100 shares trading hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut Bank of East Asia to a "sell" rating in a research report on Tuesday, April 15th.

Bank of East Asia Stock Up 15.5%

The stock has a 50 day moving average price of $1.48 and a two-hundred day moving average price of $1.39.

About Bank of East Asia

The Bank of East Asia, Limited, together with its subsidiaries, provides various banking and related financial services. Its personal banking services include corporate, individual, savings, current, time deposit, and supreme accounts; and time deposits, foreign currency deposits, MAS services, and auto-payroll products, as well as safe deposit boxes and remittance services.

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