China Mengniu Dairy (OTCMKTS:CIADY) Shares Down 0.5% - Here's Why

Key Points

• China Mengniu Dairy (OTCMKTS:CIADY) shares dropped by 0.5% in mid-day trading, with a trading range of $18.47 to $18.49.
• Zacks Research downgraded the stock from a "hold" rating to a "strong sell" rating, contributing to its negative market sentiment.
• The stock is currently holding below its fifty-day moving average of $19.59 and has an overall consensus rating of "sell" based on analyst evaluations.

China Mengniu Dairy (OTCMKTS:CIADY - Get Free Report) shares fell 0.5% during mid-day trading on Thursday . The stock traded as low as $18.47 and last traded at $18.49. 12,869 shares traded hands during trading, an increase of 30% from the average session volume of 9,889 shares. The stock had previously closed at $18.58.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of China Mengniu Dairy from a "hold" rating to a "strong sell" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

China Mengniu Dairy Price Performance

The business has a fifty day simple moving average of $19.59 and a two-hundred day simple moving average of $21.59.

China Mengniu Dairy Company Profile

China Mengniu Dairy Company Limited, an investment holding company, engages in the manufacture and distribution of dairy products under the MENGNIU brand in the People's Republic of China and internationally. It operates through Liquid Milk Business, Ice Cream Business, Milk Formula Business, and Cheese Business, and Other segments.

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