Trinseo (NYSE:TSE) Shares Cross Below 200-Day Moving Average – Here’s Why

Trinseo PLC (NYSE:TSE)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.28 and traded as low as $0.23. Trinseo shares last traded at $0.2310, with a volume of 899,325 shares.

Analysts Set New Price Targets

TSE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Trinseo in a research note on Monday, December 29th. Alembic Global Advisors reaffirmed a “neutral” rating and set a $1.00 target price on shares of Trinseo in a report on Monday, December 1st. Finally, Zacks Research raised shares of Trinseo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $1.00.

Trinseo Stock Performance

The company has a market capitalization of $8.13 million, a price-to-earnings ratio of -0.02 and a beta of 1.46. The company has a fifty day simple moving average of $0.47 and a two-hundred day simple moving average of $1.28.

Institutional Trading of Trinseo

Several institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in Trinseo during the 2nd quarter valued at about $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of Trinseo during the second quarter valued at approximately $41,000. Russell Investments Group Ltd. raised its holdings in Trinseo by 2,181.1% during the third quarter. Russell Investments Group Ltd. now owns 13,276 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 12,694 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Trinseo during the 2nd quarter valued at $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Trinseo in the 2nd quarter worth $58,000. 82.69% of the stock is owned by hedge funds and other institutional investors.

Trinseo Company Profile

Trinseo (NYSE: TSE) is a global materials company specializing in the production of plastics, latex binders, synthetic rubber and specialty polymers. The company’s portfolio includes polystyrene, acrylonitrile-butadiene-styrene (ABS), polycarbonate, styrene-butadiene rubber and various latex products. These materials serve as key components in a wide range of end markets, such as automotive, electronics, appliances, medical devices, consumer goods and paper and board coatings.

Founded in 2010 through the spin-off of certain businesses from The Dow Chemical Company, Trinseo began trading as Styron before adopting its current name in 2012.