Pernod Ricard (OTCMKTS:PRNDY) Sees Large Volume Increase - Here's What Happened

Key Points

• Unusual volume spike: About 2,250,440 shares traded (a 206% increase vs. the prior session), with the stock last trading at $15.39 versus a prior close of $15.63.
• Mixed analyst sentiment: Two analysts rate the stock Strong Buy, one Hold and one Sell — the consensus is a "Moderate Buy" — while BNP Paribas Exane recently cut to Strong Sell and Zacks moved from Strong Sell to Hold.
• Technical weakness: Pernod Ricard is trading below its 50-day ($16.62) and 200-day ($17.81) simple moving averages, signaling recent downside pressure.

Pernod Ricard SA (OTCMKTS:PRNDY - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 2,250,440 shares were traded during trading, an increase of 206% from the previous session's volume of 735,702 shares.The stock last traded at $15.39 and had previously closed at $15.63.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas Exane cut Pernod Ricard from a "hold" rating to a "strong sell" rating in a research note on Monday, January 12th. Zacks Research upgraded shares of Pernod Ricard from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Pernod Ricard Price Performance

The company has a 50-day simple moving average of $16.62 and a two-hundred day simple moving average of $17.81.

About Pernod Ricard

Pernod Ricard SA produces and sells wines and spirits worldwide. The company offers whiskey, vodka, gin, rum, liqueur and bitters, champagne, tequila and mezcal, and aperitif under the brands 100 Pipers, Aberlour, Absolut, Absolut Elyx, Altos, ARARAT, Augier, Avion, Ballantine's, Becherovka, Beefeater, Blenders Pride, Brancott Estate, Campo Viejo, Ceder's, Chivas, Church Road, Clan Campbell, Del Maguey, George Wyndham, Green Spot, Havana Club, Imperial, Imperial Blue, Italicus, J.P. Wiser's, Jacob's Creek, Jameson, Jefferson's, Kahlúa, Kenwood, KI NO BI, Lillet, Long John, L'Orbe, Lot No.

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