COSCO SHIPPING (OTCMKTS:CICOY) Stock Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• COSCO SHIPPING Holdings Co., Ltd. saw its stock price drop below its 50-day moving average of $9.00, trading as low as $7.68.
• Analysts have downgraded the stock from a "strong-buy" to a "hold" rating, with an average rating of "Reduce."
• The company recently announced a dividend of $0.2832 per share, with an impressive dividend yield of 1,282.0%.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $9.00 and traded as low as $7.68. COSCO SHIPPING shares last traded at $7.74, with a volume of 5,360 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CICOY shares. Zacks Research downgraded COSCO SHIPPING from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Citigroup lowered shares of COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a 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 data from MarketBeat, the stock has an average rating of "Reduce".

COSCO SHIPPING Stock Performance

The firm's fifty day simple moving average is $9.00 and its 200 day simple moving average is $8.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.68 and a quick ratio of 1.63.

COSCO SHIPPING Cuts Dividend

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