FLSmidth & Co. A/S (OTCMKTS:FLIDY) Share Price Passes Above 50 Day Moving Average – Here’s Why

FLSmidth & Co. A/S (OTCMKTS:FLIDY)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.59 and traded as high as $8.08. FLSmidth & Co. A/S shares last traded at $8.08, with a volume of 418 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Zacks Research upgraded FLSmidth & Co. A/S to a “hold” rating in a research note on Friday, April 17th. UBS Group upgraded FLSmidth & Co. A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

FLSmidth & Co. A/S Stock Performance

The stock has a 50 day simple moving average of $7.59 and a two-hundred day simple moving average of $7.99.

FLSmidth & Co. A/S (OTCMKTS:FLIDY) last issued its earnings results on Wednesday, May 13th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The firm had revenue of $513.62 million for the quarter, compared to analysts’ expectations of $566.52 million.

About FLSmidth & Co. A/S

FLSmidth & Co A/S is a Denmark‐based engineering group founded in 1882 by Frederik Læssøe Smidth. The company specializes in the design, manufacture and installation of equipment and services for the global cement and mining industries. Headquartered in Copenhagen, FLSmidth has built a reputation for supplying end‐to‐end solutions that support both greenfield and brownfield projects worldwide.

FLSmidth’s core offerings include crushing, grinding, separation and pyro‐processing equipment, as well as material handling systems and pumps.