Schibsted ASA (OTCMKTS:SBSNY) Shares Down 4.7% – Here’s Why

Shares of Schibsted ASA (OTCMKTS:SBSNY) fell 4.7% during mid-day trading on Tuesday . The company traded as low as $24.78 and last traded at $24.78. 1,444 shares were traded during mid-day trading, a decline of 85% from the average session volume of 9,344 shares. The stock had previously closed at $26.00.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded Schibsted ASA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Schibsted ASA Price Performance

The company’s 50-day moving average is $25.55 and its two-hundred day moving average is $28.94.

Schibsted ASA (OTCMKTS:SBSNY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $149.56 million during the quarter.

About Schibsted ASA

Schibsted ASA is a Norway-based media and technology group headquartered in Oslo. Established in 1839 with the founding of the newspaper Aftenposten, the company has evolved into a leading digital operator in classifieds, online marketplaces and news media. Schibsted leverages data-driven insights and technology platforms to connect buyers and sellers, as well as to deliver news and content to audiences across multiple channels.

In its media division, Schibsted publishes prominent Scandinavian news brands, including Aftenposten in Norway and Verdens Gang (VG), offering both print and digital editions.