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

Tsingtao Brewery Co. (OTCMKTS:TSGTY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $26.65, but opened at $25.22. Tsingtao Brewery shares last traded at $25.22, with a volume of 206 shares traded.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Tsingtao Brewery from a “hold” rating to a “strong sell” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Tsingtao Brewery Stock Performance

The firm’s 50-day simple moving average is $28.12 and its 200-day simple moving average is $30.44.

About Tsingtao Brewery

Tsingtao Brewery Co, Ltd. is a Chinese beverage company best known for producing and selling beer under the Tsingtao brand. The company offers a range of lagers and other beer products, including its flagship Tsingtao beer and regional brands such as Laoshan. Its portfolio includes products designed for different tastes, occasions and price segments.

The company traces its history to 1903, when the brewery was established in Qingdao, Shandong Province. Tsingtao Brewery has since expanded beyond its original facility through a broader brewing, distribution and sales network serving markets throughout mainland China.