Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down in pre-market trading from $3.33 to an open of $3.16 and last traded at $3.16 on light volume (403 shares), about 1.7% down.
• Analyst sentiment is mixed: Citigroup upgraded to a Hold from Strong Sell while UBS downgraded to Strong Sell, leaving a MarketBeat average rating of "Reduce" and a consensus price target of $5.20.
• Technically, the stock sits above its 50-day SMA ($2.87) but below its 200-day SMA ($3.44), suggesting short-term support yet weakness versus the longer-term trend.

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.33, but opened at $3.16. Treasury Wine Estates shares last traded at $3.16, with a volume of 403 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup upgraded shares of Treasury Wine Estates from a "strong sell" rating to a "hold" rating in a research report on Tuesday. UBS Group cut shares of Treasury Wine Estates from a "hold" rating to a "strong sell" rating in a research report on Friday, February 6th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $5.20.

Treasury Wine Estates Stock Down 1.7%

The firm's 50-day simple moving average is $2.87 and its 200 day simple moving average is $3.44.

About Treasury Wine Estates

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags' Leap Family Vineyards, Wolf Blass, Lindeman's and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster's Group and traces its heritage back to the founding of Penfolds in 1844.

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