Sappi (OTCMKTS:SPPJY) Shares Gap Down – Here’s What Happened

Shares of Sappi Ltd. (OTCMKTS:SPPJY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.6050, but opened at $1.55. Sappi shares last traded at $1.55, with a volume of 188 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Sappi from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sappi Trading Down 1.9%

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 1.20. The stock has a market cap of $867.84 million, a P/E ratio of -5.43, a P/E/G ratio of 0.20 and a beta of 0.61. The company has a 50-day simple moving average of $1.43 and a 200-day simple moving average of $1.52.

Sappi (OTCMKTS:SPPJY) last announced its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Sappi had a positive return on equity of 1.78% and a negative net margin of 3.27%.The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.34 billion.

Sappi Company Profile

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.