Kingfisher (OTCMKTS:KGFHY) Sees Large Volume Increase - What's Next?

Key Points

• Kingfisher PLC experienced a significant increase in trading volume, with 673,050 shares changing hands on Wednesday, marking a 314% rise from the previous session.
• Analysts remain cautious, as BNP Paribas downgraded Kingfisher to a "strong sell" rating, while Deutsche Bank changed its rating from "buy" to "hold."
• The company's stock saw a slight increase of 1.1%, with current trading prices around $7.81, compared to a fifty-day moving average of $7.14.

Kingfisher PLC (OTCMKTS:KGFHY - Get Free Report) shares saw strong trading volume on Wednesday . 673,050 shares traded hands during trading, an increase of 314% from the previous session's volume of 162,550 shares.The stock last traded at $7.81 and had previously closed at $7.72.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KGFHY. BNP Paribas raised shares of Kingfisher to a "strong sell" rating in a research report on Thursday, May 29th. Deutsche Bank Aktiengesellschaft cut shares of Kingfisher from a "buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, UBS Group assumed coverage on Kingfisher in a research note on Monday, July 28th. They issued a "neutral" rating for the company. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Kingfisher presently has a consensus rating of "Reduce".

Kingfisher Stock Up 1.1%

The company has a fifty day moving average price of $7.14 and a 200 day moving average price of $7.27.

About Kingfisher

Kingfisher plc, together with its subsidiaries, supplies home improvement products and services primarily in the United Kingdom, Ireland, France, and internationally. It also operates retail stores under the B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint, and Koçtas brands. The company sells its products through stores and e-commerce channels.

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