Coca-Cola HBC (OTCMKTS:CCHGY) Shares Gap Up - Here's Why

Key Points

• Coca-Cola HBC (OTCMKTS:CCHGY) shares experienced a significant gap up, opening at $47.47 after closing at $45.33.
• Recently, various analysts have issued ratings on the stock, with a current consensus rating of "Moderate Buy"; including a "buy" rating from Deutsche Bank and a lowered rating from Zacks Research.
• The stock's performance shows it has 50-day and 200-day simple moving averages of $49.24 and $50.65, respectively, indicating a downward trend relative to its moving averages.

Coca-Cola HBC (OTCMKTS:CCHGY - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $45.33, but opened at $47.47. Coca-Cola HBC shares last traded at $47.21, with a volume of 465 shares traded.

Wall Street Analysts Forecast Growth

CCHGY has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola HBC in a report on Friday, August 8th. Zacks Research lowered Coca-Cola HBC from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Wall Street Zen lowered Coca-Cola HBC from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Finally, Morgan Stanley initiated coverage on Coca-Cola HBC in a report on Thursday, October 2nd. They set an "overweight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Coca-Cola HBC Price Performance

The stock has a 50-day simple moving average of $49.24 and a 200-day simple moving average of $50.65.

Coca-Cola HBC Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.