Coca-Cola HBC (OTCMKTS:CCHGY) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Coca-Cola HBC shares fell below their 200-day moving average of $50.22, indicating a potential downtrend in stock performance.
• Recent analyst ratings show a downgrade from "strong-buy" to "hold" by Zacks Research, while Deutsche Bank maintained a "buy" rating, resulting in an average rating of "Moderate Buy" across multiple analysts.
• The company's debt-to-equity ratio stands at 0.94, suggesting manageable debt levels in relation to its equity.

Shares of Coca-Cola HBC (OTCMKTS:CCHGY - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.22 and traded as low as $50.18. Coca-Cola HBC shares last traded at $50.38, with a volume of 1,119 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Zacks Research lowered Coca-Cola HBC from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola HBC in a report on Friday, August 8th. Finally, Wall Street Zen lowered Coca-Cola HBC from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Coca-Cola HBC Stock Performance

The company has a 50 day simple moving average of $51.79 and a 200-day simple moving average of $50.40. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.94.

About Coca-Cola HBC

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages under franchise in Switzerland, the United Kingdom, North and Central America, rest of Europe, the Nordic countries, and internationally. The company offers sparkling soft drinks, adult sparkling, hydration drinks, juices, ready-to-drink tea and coffee, sports and energy drinks, dairy, stills, coffee, water, plant-based drinks, premium spirits, and snacks.