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

Key Points

• COSCO SHIPPING shares gapped down from $7.90 to $7.43 prior to trading, with a current trading volume of 620 shares.
• Analyst ratings for COSCO SHIPPING have been downgraded, with Zacks Research and Citigroup both issuing lower ratings, leading to an average rating of "Reduce" for the stock.
• The company announced a dividend of $0.2832, set to be paid on November 10th, representing a remarkably high yield of 1,282.0%.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $7.90, but opened at $7.43. COSCO SHIPPING shares last traded at $7.43, with a volume of 620 shares.

Wall Street Analyst Weigh In

CICOY has been the subject of a number of analyst reports. Zacks Research cut COSCO SHIPPING from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Citigroup downgraded COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce".

COSCO SHIPPING Stock Performance

The company has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $8.47.

COSCO SHIPPING Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, November 10th. Stockholders of record on Thursday, September 25th will be paid a $0.2832 dividend. 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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