Xiaomi (OTCMKTS:XIACY) Stock Breaks Above 50 Day Moving Average – Should You Sell?

Xiaomi Corporation (OTCMKTS:XIACY) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $16.73 and traded as high as $16.91. Xiaomi shares last traded at $16.86, with a volume of 340,760 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on XIACY shares. Zacks Research raised Xiaomi from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Jefferies Financial Group upgraded Xiaomi from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, China Renaissance downgraded shares of Xiaomi from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Xiaomi Price Performance

The company has a 50-day moving average price of $16.73.

About Xiaomi

Xiaomi Corporation is a China-based technology company founded in 2010 by Lei Jun. The company develops and sells consumer electronics and smart hardware, with smartphones as its best-known product category. Its devices include flagship, mid-range and entry-level smartphones marketed under the Xiaomi, Redmi and POCO brands.

Xiaomi also offers tablets, laptops, smart televisions, wearables, audio products, home appliances and other connected devices. Through its smart-home ecosystem, the company connects products such as cameras, routers, security systems and household appliances through software and internet-based services.