Trinseo (NYSE:TSE) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Shares of Trinseo PLC (NYSE:TSE - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.11 and traded as low as $3.68. Trinseo shares last traded at $3.79, with a volume of 228,044 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Trinseo from a "hold" rating to a "sell" rating in a research note on Monday, May 12th.

Trinseo Stock Performance

The stock has a 50 day moving average price of $3.26 and a two-hundred day moving average price of $4.11. The company has a market capitalization of $133.05 million, a PE ratio of -0.38 and a beta of 1.44.

Trinseo (NYSE:TSE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share for the quarter, topping the consensus estimate of ($1.40) by $0.03. The company had revenue of $784.80 million during the quarter, compared to analyst estimates of $980.01 million. Sell-side analysts predict that Trinseo PLC will post -3.88 earnings per share for the current year.

Institutional Investors Weigh In On Trinseo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CastleKnight Management LP boosted its stake in Trinseo by 128.1% during the 4th quarter. CastleKnight Management LP now owns 2,479,618 shares of the basic materials company's stock valued at $12,646,000 after purchasing an additional 1,392,476 shares during the period. Brightline Capital Management LLC bought a new stake in Trinseo during the 4th quarter valued at approximately $4,820,000. Truffle Hound Capital LLC bought a new stake in Trinseo during the 4th quarter valued at approximately $1,785,000. Acadian Asset Management LLC boosted its stake in Trinseo by 267.9% during the 1st quarter. Acadian Asset Management LLC now owns 329,306 shares of the basic materials company's stock valued at $1,208,000 after purchasing an additional 239,793 shares during the period. Finally, 683 Capital Management LLC bought a new stake in Trinseo during the 4th quarter valued at approximately $636,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.