Solvay (OTC:SLVYY) Trading Up 0.8% – Time to Buy?

Solvay SA (OTC:SLVYY)’s share price shot up 0.8% during mid-day trading on Thursday . The stock traded as high as $3.35 and last traded at $3.3250. 42,579 shares were traded during trading, a decline of 29% from the average session volume of 59,656 shares. The stock had previously closed at $3.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Solvay from a “hold” rating to a “sell” rating in a research report on Monday, November 24th. Sanford C. Bernstein downgraded Solvay to a “market perform” rating in a research report on Thursday, January 8th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Solvay has an average rating of “Reduce”.

Solvay Price Performance

The stock has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $3.14.

Solvay Company Profile

Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The Materials segment offers specialty polymers, including aromatic polymers, high barrier polymers, and fluoropolymers for the electronics, automotive, aerospace, and healthcare industries; and composite materials for aerospace engineered materials market. The Chemicals segment produces and sells soda ash and sodium bicarbonate primarily to the flat and container glass industries, as well as for use in detergents, pharmaceutical, and feed and food industries; hydrogen peroxide for use primarily in the paper industry to bleach pulp, as well as chemicals, electronics, food, mining, and environment; and dispersible silica for tire manufacturers; and solvent solutions, phenols and derivatives, polyamide derivatives and smart, functional, and sustainable yarns and polymers.