Continental (OTCMKTS:CTTAY) Shares Gap Down – Here’s Why

Shares of Continental AG (OTCMKTS:CTTAY) gapped down before the market opened on Monday . The stock had previously closed at $8.7220, but opened at $8.12. Continental shares last traded at $8.28, with a volume of 6,235 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of Continental from an “underperform” rating to a “market perform” rating in a research note on Monday, January 5th. Berenberg Bank cut Continental from a “buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Jefferies Financial Group upgraded Continental from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of Continental in a research note on Tuesday, February 3rd. Finally, Barclays cut shares of Continental from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Continental has a consensus rating of “Hold”.

Continental Price Performance

The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 49.88 and a beta of 1.27. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.25. The stock has a fifty day moving average of $8.22 and a 200-day moving average of $7.89.

Continental Company Profile

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.