Kingfisher (OTCMKTS:KGFHY) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Kingfisher PLC experienced a significant increase in trading volume, with approximately 833,272 shares traded, marking a 455% rise compared to the previous session.
• Analysts have issued mixed ratings on Kingfisher, with major firms such as BNP Paribas and Barclays downgrading the stock, leading to an average rating of "Reduce".
• The company's stock is currently priced at $6.73, below its 50-day moving average of $7.34, indicating potential challenges in its stock performance.

Shares of Kingfisher PLC (OTCMKTS:KGFHY - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 833,272 shares changed hands during trading, an increase of 455% from the previous session's volume of 150,006 shares.The stock last traded at $6.73 and had previously closed at $6.82.

Wall Street Analyst Weigh In

KGFHY has been the subject of several recent analyst reports. BNP Paribas raised shares of Kingfisher to a "strong sell" rating in a research note on Thursday, May 29th. Barclays cut shares of Kingfisher from an "equal weight" rating to an "underweight" rating in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft cut shares of Kingfisher from a "buy" rating to a "hold" rating in a report on Tuesday, August 26th. UBS Group assumed coverage on shares of Kingfisher in a research report on Monday, July 28th. They set a "neutral" rating on the stock. Finally, Citigroup reaffirmed a "neutral" rating on shares of Kingfisher in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Kingfisher has an average rating of "Reduce".

Kingfisher Stock Performance

The business's 50 day simple moving average is $7.34 and its 200-day simple moving average is $7.25.

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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