Tsingtao Brewery (OTCMKTS:TSGTY) Shares Gap Down – Here’s Why

Tsingtao Brewery Co. (OTCMKTS:TSGTY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $30.35, but opened at $28.8003. Tsingtao Brewery shares last traded at $28.8003, with a volume of 414 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Tsingtao Brewery to a “hold” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Tsingtao Brewery Trading Down 5.1%

The company’s 50 day simple moving average is $32.22 and its 200-day simple moving average is $32.22.

Tsingtao Brewery Company Profile

Tsingtao Brewery Co, Ltd., founded in 1903 and headquartered in Qingdao, Shandong Province, is one of China’s longest-established and most widely recognized beer producers. The company’s core business centers on the brewing, packaging and distribution of beer under its flagship Tsingtao brand, alongside a portfolio of specialty and seasonal brews. Over more than a century of operation, Tsingtao has built a reputation for quality pale lagers and malt beverages, leveraging traditional brewing techniques alongside modern production processes.

In addition to its primary domestic operations, Tsingtao Brewery maintains an extensive export network spanning Asia, North America, Europe and other international markets.