COSCO SHIPPING (OTCMKTS:CICOY) Shares Cross Below 50 Day Moving Average - What's Next?

Key Points

• COSCO SHIPPING's share price has fallen below its fifty-day moving average of $8.78, trading as low as $7.50 recently.
• Analysts have issued revised ratings for the stock, with Zacks Research downgrading it to a "hold" and Citigroup changing its rating to "strong sell."
• The company has announced a dividend of $0.2832 per share, with an astonishing yield of 1,282.0%, to be paid on November 10th.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report)'s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.78 and traded as low as $7.50. COSCO SHIPPING shares last traded at $7.56, with a volume of 35,302 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CICOY shares. Zacks Research downgraded shares of COSCO SHIPPING from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Citigroup downgraded shares of COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce".

COSCO SHIPPING Stock Up 0.5%

The company's fifty day moving average price is $8.78 and its 200 day moving average price is $8.47.

COSCO SHIPPING Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, November 10th. Investors of record on Thursday, September 25th will be given a dividend of $0.2832 per share. The ex-dividend date is Wednesday, September 24th. This represents a 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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