Tsingtao Brewery (OTCMKTS:TSGTY) Shares Gap Down – Here’s Why

Shares of Tsingtao Brewery Co. (OTCMKTS:TSGTY) gapped down before the market opened on Wednesday . The stock had previously closed at $27.54, but opened at $26.00. Tsingtao Brewery shares last traded at $26.00, with a volume of 150 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded Tsingtao Brewery from a “hold” rating to a “strong sell” rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Tsingtao Brewery Stock Down 5.6%

The firm has a 50 day moving average price of $28.44 and a 200-day moving average price of $30.79.

About Tsingtao Brewery

Tsingtao Brewery Co, Ltd., founded in 1903 and headquartered in Qingdao, Shandong Province, is one of China’s longest-established and most widely recognized beer producers. The company’s core business centers on the brewing, packaging and distribution of beer under its flagship Tsingtao brand, alongside a portfolio of specialty and seasonal brews. Over more than a century of operation, Tsingtao has built a reputation for quality pale lagers and malt beverages, leveraging traditional brewing techniques alongside modern production processes.

In addition to its primary domestic operations, Tsingtao Brewery maintains an extensive export network spanning Asia, North America, Europe and other international markets.