Sappi (OTCMKTS:SPPJY) Shares Gap Down – Time to Sell?

Sappi Ltd. (OTCMKTS:SPPJY) shares gapped down before the market opened on Thursday . The stock had previously closed at $0.87, but opened at $0.8461. Sappi shares last traded at $0.8461, with a volume of 725 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Sappi Stock Performance

The firm has a fifty day moving average of $0.84 and a 200-day moving average of $0.89. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 0.94. The firm has a market cap of $511.54 million, a P/E ratio of -0.62 and a beta of 0.62.

About Sappi

Sappi Limited is a global diversified woodfibre company that produces and sells paper, pulp and related biomaterials. Its portfolio includes graphic papers, packaging and specialty papers, and dissolving pulp used in products such as textiles, cellophane and other cellulose-based materials.

The company serves customers in publishing, commercial printing, packaging, labeling, food and beverage, consumer products, and industrial markets. Sappi also develops renewable, fibre-based alternatives and speciality cellulose products designed for applications that traditionally rely on fossil-based or non-renewable materials.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, the company adopted the Sappi name in 1973 and expanded internationally through acquisitions and the development of manufacturing operations.