Schaeffler (OTCMKTS:SCFLF) Downgraded by HSBC to Hold

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HSBC cut shares of Schaeffler (OTCMKTS:SCFLF) from a buy rating to a hold rating in a research note published on Thursday, The Fly reports.

Shares of Schaeffler stock traded up $1.20 during midday trading on Thursday, hitting $10.21. The company had a trading volume of 500 shares, compared to its average volume of 220. The business’s 50 day simple moving average is $8.41 and its two-hundred day simple moving average is $7.81. Schaeffler has a 1-year low of $6.55 and a 1-year high of $10.50.

Schaeffler Company Profile

Schaeffler AG manufactures and sells precision components and systems for automotive and industrial applications in Europe, the Americas, China, and the Asia Pacific. The company's Automotive OEM division offers engine systems, including rolling bearing solutions, belt and chain drive products, valve train components, and systems for variable valve trains; and transmission systems, such as torsion and vibration dampers, clutches and double clutch systems, torque converters, CVT components, lightweight differentials, bearing solutions, and synchronizing and gearshift components.

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