Shares of Xiaomi Co. (OTCMKTS:XIACF – Get Free Report) fell 1.8% on Wednesday . The stock traded as low as $3.20 and last traded at $3.22. 563,744 shares changed hands during mid-day trading, an increase of 634% from the average session volume of 76,846 shares. The stock had previously closed at $3.2780.
Analysts Set New Price Targets
Separately, Jefferies Financial Group downgraded Xiaomi from a “hold” rating to an “underperform” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.
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Xiaomi Stock Down 1.8%
About Xiaomi
Xiaomi Corporation, founded in April 2010 by entrepreneur Lei Jun and a group of partners, is a Chinese multinational electronics company headquartered in Beijing. The company began with the launch of its proprietary MIUI operating system and quickly expanded into hardware design and manufacturing. Over the past decade, Xiaomi has established itself as one of the world’s leading smartphone vendors, focusing on delivering high-performance devices at competitive price points.
In addition to its core smartphone business, Xiaomi operates two main hardware sub-brands: Mi and Redmi.
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