Hermes International (OTCMKTS:HESAY) Shares Gap Up - What's Next?

Key Points

• Hermès shares gapped higher, opening at $143.28 versus a prior close of $138.06, with 3,849 shares traded.
• Analyst sentiment has weakened, with several firms downgrading the stock; coverage now includes one Strong Buy, one Buy, five Holds, and three Sells, for an overall “Hold” rating.
• The shares remain below their 50-day and 200-day moving averages of $160.47 and $179.39, respectively.

Hermes International SA - Unsponsored ADR (OTCMKTS:HESAY - Get Free Report)'s share price gapped up prior to trading on Monday. The stock had previously closed at $138.06, but opened at $143.28. Hermes International shares last traded at $143.28, with a volume of 3,849 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HESAY shares. Zacks Research lowered Hermes International from a "hold" rating to a "strong sell" rating in a research note on Monday, October 12th. Berenberg Bank downgraded Hermes International from a "strong-buy" rating to a "hold" rating in a report on Friday. Rothschild & Co Redburn lowered Hermes International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 1st. UBS Group cut Hermes International from a "neutral" rating to a "sell" rating in a research note on Monday, October 5th. Finally, The Goldman Sachs Group initiated coverage on Hermes International in a research report on Monday, October 5th. They set a "sell" rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold".

Hermes International Stock Performance

The business's 50-day simple moving average is $160.47 and its 200-day simple moving average is $179.39.

Hermes International Company Profile

Hermès International is a French luxury-goods company headquartered in Paris. Founded in 1837 by Thierry Hermès as a harness workshop, the company has evolved into a global manufacturer and retailer of high-end products while retaining a strong focus on craftsmanship, quality and long-term brand heritage.

Hermès designs and sells leather goods and saddlery, including handbags, luggage and equestrian equipment. Its other product categories include silk and textiles, ready-to-wear clothing, shoes, fashion accessories, perfumes and beauty products, watches, jewelry, and home furnishings.

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