Umicore (OTCMKTS:UMICY) Shares Pass Below 50-Day Moving Average - Time to Sell?

Key Points

• Umicore's stock has fallen below its 50-day moving average of $4.05, trading as low as $3.78 on Friday, indicating potential selling pressure.
• Recent analyst upgrades include a "buy" rating from both Jefferies Financial Group and Goldman Sachs, suggesting positive sentiment for the stock.
• Umicore operates in various markets globally, focusing on materials technology and recycling, with a market cap of $3.66 billion and a PE ratio of 4.50.

Umicore S.A. - Unsponsored ADR (OTCMKTS:UMICY - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.05 and traded as low as $3.78. Umicore shares last traded at $3.81, with a volume of 10,492 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UMICY. Jefferies Financial Group raised shares of Umicore to a "buy" rating in a research report on Monday, June 16th. The Goldman Sachs Group raised shares of Umicore to a "buy" rating in a research report on Monday, June 9th. Finally, Cfra Research raised shares of Umicore from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Umicore Stock Performance

The company's 50-day simple moving average is $4.05 and its 200 day simple moving average is $3.10. The company has a market cap of $3.66 billion and a PE ratio of 4.50.

Umicore Company Profile

Umicore SA operates as a materials technology and recycling company in Belgium, rest of Europe, the Asia-Pacific, North America, South America, and Africa. It operates through Catalysis, Energy & Surface Technologies, and Recycling segments. The Catalysis segment provides automotive catalysts for gasoline, and diesel light and heavy-duty diesel applications, including on-road and non-road vehicles; stationary catalysis for industrial emissions control; and produces precious metals-based compounds and catalysts for use in the pharmaceutical and fine chemicals industries, as well as fuel cell applications.

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