Basf (OTCMKTS:BASFY) Sees Strong Trading Volume After Analyst Upgrade

Basf Se (OTCMKTS:BASFY) shares saw unusually-high trading volume on Wednesday after Berenberg Bank upgraded the stock from a sell rating to a hold rating. Approximately 398,728 shares were traded during trading, an increase of 129% from the previous session’s volume of 173,844 shares.The stock last traded at $14.59 and had previously closed at $15.03.

Several other brokerages have also commented on BASFY. DZ Bank lowered Basf from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Zacks Research lowered shares of Basf from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Basf from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Basf Price Performance

The stock has a market capitalization of $52.27 billion, a P/E ratio of 146.41 and a beta of 0.83. The business has a fifty day simple moving average of $13.49 and a 200 day simple moving average of $13.02. The company has a current ratio of 1.82, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Basf Company Profile

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world’s largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF’s activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.