Sappi (OTCMKTS:SPPJY) Shares Gap Up – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY) shares gapped up prior to trading on Monday . The stock had previously closed at $0.9439, but opened at $1.09. Sappi shares last traded at $1.09, with a volume of 1,000 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Sappi presently has a consensus rating of “Hold”.

Sappi Price Performance

The firm has a 50-day moving average of $1.07 and a 200-day moving average of $1.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 1.18. The firm has a market capitalization of $658.99 million, a P/E ratio of -2.37 and a beta of 0.61.

Sappi (OTCMKTS:SPPJY) last announced its quarterly earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Sappi had a negative return on equity of 2.34% and a negative net margin of 5.31%.The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. As a group, analysts predict that Sappi Ltd. will post -0.11 EPS for the current year.

About Sappi

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.