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

Sappi Ltd. (OTCMKTS:SPPJY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $0.7791, but opened at $0.83. Sappi shares last traded at $0.83, with a volume of 305 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Sappi Trading Up 6.5%

The firm has a market cap of $501.80 million, a P/E ratio of -0.61 and a beta of 0.62. The firm’s fifty day moving average is $0.82 and its two-hundred day moving average is $0.90. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.91.

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.