Solvay (OTCMKTS:SLVYY) Shares Gap Down – Here’s Why

Solvay SA (OTCMKTS:SLVYY) shares gapped down before the market opened on Friday . The stock had previously closed at $2.98, but opened at $2.9140. Solvay shares last traded at $2.9140, with a volume of 2,098 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLVYY. Deutsche Bank Aktiengesellschaft raised Solvay from a “sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Zacks Research lowered Solvay from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Solvay Stock Performance

The stock’s 50-day moving average price is $2.99 and its 200 day moving average price is $3.04.

About Solvay

Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The Materials segment offers specialty polymers, including aromatic polymers, high barrier polymers, and fluoropolymers for the electronics, automotive, aerospace, and healthcare industries; and composite materials for aerospace engineered materials market. The Chemicals segment produces and sells soda ash and sodium bicarbonate primarily to the flat and container glass industries, as well as for use in detergents, pharmaceutical, and feed and food industries; hydrogen peroxide for use primarily in the paper industry to bleach pulp, as well as chemicals, electronics, food, mining, and environment; and dispersible silica for tire manufacturers; and solvent solutions, phenols and derivatives, polyamide derivatives and smart, functional, and sustainable yarns and polymers.