Sappi (OTCMKTS:SPPJY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Sappi Ltd. experienced a 262% increase in trading volume on Thursday, with approximately 19,511 shares traded compared to 5,385 shares in the previous session.
• The company reported a loss of $0.04 per share for its latest quarterly earnings, missing analysts' expectations, while revenue fell short of estimates at $1.32 billion.
• Analyst ratings for Sappi have deteriorated, with Zacks Research recently upgrading the stock to a "strong sell" rating, contributing to a consensus rating of "Sell."

Shares of Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 19,511 shares changed hands during trading, an increase of 262% from the previous session's volume of 5,385 shares.The stock last traded at $1.51 and had previously closed at $1.54.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Sappi to a "strong sell" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sappi currently has a consensus rating of "Sell".

Sappi Stock Performance

The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $803.74 million, a P/E ratio of 8.44 and a beta of 0.83. The stock has a fifty day simple moving average of $1.67 and a 200-day simple moving average of $1.87.

Sappi (OTCMKTS:SPPJY - Get Free Report) last released its earnings results on Thursday, August 7th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.07). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Sappi had a net margin of 1.75% and a return on equity of 6.12%.

About Sappi

Sappi Limited, together with its subsidiaries, engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa. The company manufacture and sells dissolving pulp, and wood and paper pulp; graphic papers, coated and uncoated papers, and casting and release papers; and packaging and specialty papers, including packaging and specialty papers, including flexible packaging papers, label papers, functional paper packaging products, containerboards, paperboards, silicone base papers, and dye sublimation papers.