COSCO SHIPPING (OTCMKTS:CICOY) Shares Gap Up - Here's What Happened

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.70, but opened at $9.24. COSCO SHIPPING shares last traded at $9.24, with a volume of 355 shares traded.

Analysts Set New Price Targets

Separately, Citigroup downgraded COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, June 24th.

COSCO SHIPPING Stock Up 7.1%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.68 and a quick ratio of 1.63. The company has a 50-day simple moving average of $8.81 and a two-hundred day simple moving average of $7.97.

COSCO SHIPPING Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, July 14th. Shareholders of record on Tuesday, June 3rd were issued a $0.5456 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from COSCO SHIPPING's previous dividend of $0.28. This represents a yield of 8.88%.

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.