COSCO SHIPPING (OTCMKTS:CICOY) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• COSCO SHIPPING shares experienced a significant increase in trading volume by 69%, with 13,072 shares traded recently, compared to the previous session's 7,733 shares.
• Analyst ratings have been downgraded, with Citigroup changing their stance from a "strong-buy" to a "strong sell" and Zacks Research moving from "strong-buy" to "hold," leading to an overall average rating of "Reduce."
• The company is issuing a dividend of $0.2832 per share, set to be paid on November 10, 2023, despite previous cuts, which reflects a staggering dividend yield of 1,282.0%.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report) shares saw an uptick in trading volume on Friday . 13,072 shares changed hands during mid-day trading, an increase of 69% from the previous session's volume of 7,733 shares.The stock last traded at $7.70 and had previously closed at $7.77.

Analyst Ratings Changes

CICOY has been the topic of several research reports. Citigroup lowered COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, June 24th. Zacks Research downgraded shares of COSCO SHIPPING from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce".

COSCO SHIPPING Stock Up 0.8%

The stock's fifty day simple moving average is $8.93 and its two-hundred day simple moving average is $8.47.

COSCO SHIPPING Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, November 10th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.2832 per share. The ex-dividend date is Wednesday, September 24th. This represents a dividend yield of 1,282.0%.

About COSCO SHIPPING

COSCO SHIPPING Holdings Co, Ltd., an investment holding company, engages in the container shipping, managing and operating container terminals, and other terminal related businesses in the United States, Europe, the Asia Pacific, Mainland China, and internationally. It operates through Container Shipping Business and Terminal Business segments.

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