Basf (OTCMKTS:BASFY) Sees Large Volume Increase – Here’s Why

Basf Se (OTCMKTS:BASFY) shares saw strong trading volume on Friday . 529,151 shares were traded during trading, an increase of 235% from the previous session’s volume of 157,725 shares.The stock last traded at $13.60 and had previously closed at $13.82.

Wall Street Analyst Weigh In

BASFY has been the subject of a number of recent analyst reports. Citigroup started coverage on shares of Basf in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Berenberg Bank lowered Basf from a “hold” rating to a “sell” rating in a research note on Tuesday, October 14th. DZ Bank lowered Basf from a “strong-buy” rating to a “hold” rating in a research note on Monday. Zacks Research downgraded shares of Basf from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Basf from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Basf currently has a consensus rating of “Reduce”.

Basf Trading Down 1.6%

The business’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $12.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.01. The stock has a market capitalization of $48.95 billion, a P/E ratio of 135.96 and a beta of 0.83.

About Basf

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world’s largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF’s activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.