Sappi (OTCMKTS:SPPJY) Shares Down 8.2% – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY) shares were down 8.2% during trading on Monday . The company traded as low as $0.8310 and last traded at $0.8310. Approximately 1,405 shares changed hands during trading, a decline of 90% from the average session volume of 13,716 shares. The stock had previously closed at $0.9056.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Sappi Stock Down 1.2%

The company has a debt-to-equity ratio of 0.94, a current ratio of 1.27 and a quick ratio of 0.66. The stock has a market capitalization of $509.48 million, a P/E ratio of -0.62 and a beta of 0.62. The stock’s fifty day moving average is $0.85 and its two-hundred day moving average is $0.89.

About Sappi

Sappi Limited is a global diversified woodfibre company that produces and sells paper, pulp and related biomaterials. Its portfolio includes graphic papers, packaging and specialty papers, and dissolving pulp used in products such as textiles, cellophane and other cellulose-based materials.

The company serves customers in publishing, commercial printing, packaging, labeling, food and beverage, consumer products, and industrial markets. Sappi also develops renewable, fibre-based alternatives and speciality cellulose products designed for applications that traditionally rely on fossil-based or non-renewable materials.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, the company adopted the Sappi name in 1973 and expanded internationally through acquisitions and the development of manufacturing operations.