Schibsted ASA (OTCMKTS:SBSNY) Stock Price Down 10.7% – Should You Sell?

Shares of Schibsted ASA (OTCMKTS:SBSNY) dropped 10.7% during trading on Tuesday . The stock traded as low as $24.08 and last traded at $24.08. Approximately 42,489 shares changed hands during mid-day trading, an increase of 349% from the average daily volume of 9,467 shares. The stock had previously closed at $26.97.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered Schibsted ASA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Schibsted ASA Stock Performance

The firm’s 50-day moving average is $26.88 and its 200 day moving average is $30.23.

Schibsted ASA (OTCMKTS:SBSNY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $149.56 million during the quarter.

Schibsted ASA Company Profile

Schibsted ASA is a Norway-based media and technology group headquartered in Oslo. Established in 1839 with the founding of the newspaper Aftenposten, the company has evolved into a leading digital operator in classifieds, online marketplaces and news media. Schibsted leverages data-driven insights and technology platforms to connect buyers and sellers, as well as to deliver news and content to audiences across multiple channels.

In its media division, Schibsted publishes prominent Scandinavian news brands, including Aftenposten in Norway and Verdens Gang (VG), offering both print and digital editions.