COSCO SHIPPING (OTCMKTS:CICOY) Shares Gap Down - Time to Sell?

Key Points

• COSCO SHIPPING shares experienced a significant drop, opening at $8.30 after closing at $8.85, with the last traded price at $8.96.
• Analysts have downgraded COSCO SHIPPING, with Zacks Research moving the rating from "strong-buy" to "hold" and Citigroup downgrading it to "strong sell," resulting in an average rating of "Reduce."
• The company maintains a current ratio of 1.68 and a quick ratio of 1.63, indicating adequate liquidity despite the recent stock price movement.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $8.85, but opened at $8.30. COSCO SHIPPING shares last traded at $8.96, with a volume of 649 shares traded.

Wall Street Analyst Weigh In

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

COSCO SHIPPING Price Performance

The firm's fifty day moving average price is $9.10 and its 200-day moving average price is $8.40. The company has a current ratio of 1.68, a quick ratio of 1.63 and a debt-to-equity ratio of 0.11.

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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