Davis Commodities (NASDAQ:DTCK) Shares Down 9.9% – Time to Sell?

Davis Commodities Limited (NASDAQ:DTCK)’s stock price traded down 9.9% on Thursday . The company traded as low as $0.26 and last traded at $0.2670. 351,136 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 373,444 shares. The stock had previously closed at $0.2965.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Davis Commodities to a “strong sell” rating in a research report on Saturday, November 22nd. Weiss Ratings initiated coverage on shares of Davis Commodities in a research note on Saturday, November 1st. They issued a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Davis Commodities Trading Down 2.1%

The firm’s fifty day moving average is $1.12 and its 200 day moving average is $0.93.

About Davis Commodities

Davis Commodities, Inc is a merchant and supply chain management company specializing in agricultural commodities. Through its subsidiaries, the company sources, trades, and distributes products such as grains, oilseeds, coffee, sugar and related derivatives. Davis offers end-to-end solutions that include risk management, financing, quality control and logistics services to a diverse base of growers, processors and food manufacturers.

Founded in 2019, Davis Commodities completed its initial public offering on the Nasdaq under the ticker DTCK in 2020.