Thales (OTCMKTS:THLLY) Stock Falls 2.4% Following Analyst Downgrade

Thales S.A. (OTCMKTS:THLLY)’s share price fell 2.4% during trading on Thursday after Rothschild & Co Redburn downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $49.84 and last traded at $49.92. Approximately 81,806 shares changed hands during trading, an increase of 13% from the average daily volume of 72,662 shares. The stock had previously closed at $51.15.

A number of other analysts also recently issued reports on THLLY. Citigroup reaffirmed a “buy” rating on shares of Thales in a research note on Tuesday, July 7th. Royal Bank Of Canada began coverage on shares of Thales in a research report on Tuesday, August 11th. They set a “moderate buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Thales Stock Performance

The business’s 50-day simple moving average is $52.21 and its two-hundred day simple moving average is $55.65.

About Thales

Thales is a French technology company serving the aerospace, defense, transportation and digital security markets. Its business includes avionics and air traffic management systems, defense electronics and communications, cybersecurity solutions, and digital identity technologies.

The company also develops systems for rail transportation, including signaling and related infrastructure technologies. Its products and services support governments, defense organizations, airlines, transportation operators and businesses around the world.

Thales traces its origins to the late 19th century and adopted its current name in 2000, following its history as Thomson-CSF.