COSCO SHIPPING (OTCMKTS:CICOY) Stock Price Crosses Below 50-Day Moving Average - Should You Sell?

Key Points

• COSCO SHIPPING shares have recently fallen below their 50-day moving average of $8.49, trading as low as $8.28, and closing at $8.31 with a volume of 22,941 shares.
• Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating, while the overall average rating for COSCO SHIPPING is currently "Reduce."
• The company announced a dividend payout of $0.2832 per share, reflecting a remarkable yield of 1,282.0%, scheduled for distribution on November 10th.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report)'s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.49 and traded as low as $8.28. COSCO SHIPPING shares last traded at $8.31, with a volume of 22,941 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded COSCO SHIPPING from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, COSCO SHIPPING presently has an average rating of "Reduce".

COSCO SHIPPING Price Performance

The company has a 50-day simple moving average of $8.49 and a two-hundred day simple moving average of $8.50.

COSCO SHIPPING Cuts Dividend

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

COSCO SHIPPING Company Profile

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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