Clariant (OTCMKTS:CLZNY) Shares Up 12.7% – Still a Buy?

Clariant AG (OTCMKTS:CLZNY) shares were up 12.7% during trading on Friday . The company traded as high as $10.58 and last traded at $10.58. Approximately 620 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,144 shares. The stock had previously closed at $9.39.

Analysts Set New Price Targets

CLZNY has been the topic of several recent analyst reports. Citigroup cut Clariant from a “buy” rating to a “hold” rating in a report on Thursday, December 11th. UBS Group lowered shares of Clariant from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Jefferies Financial Group downgraded shares of Clariant from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Clariant presently has an average rating of “Hold”.

Clariant Stock Performance

The company has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $9.48.

Clariant Company Profile

Clariant AG is a Switzerland-based specialty chemicals company that traces its roots back to a spin-off from Sandoz in 1995. Headquartered in Muttenz near Basel, the firm develops, manufactures and markets a broad portfolio of chemical solutions for industries worldwide. While its primary listing is on the SIX Swiss Exchange, Clariant’s shares also trade OTC under the symbol CLZNY, reflecting its global investor reach.

The company operates through three core segments: Care Chemicals, Catalysis and Natural Resources.