Sappi (OTCMKTS:SPPJY) Trading 10% Higher – Here’s Why

Sappi Ltd. (OTCMKTS:SPPJY)’s share price was up 10% during mid-day trading on Friday . The stock traded as high as $1.0175 and last traded at $1.0175. 7,000 shares were traded during trading, a decline of 52% from the average session volume of 14,689 shares. The stock had previously closed at $0.9250.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Sappi Stock Up 7.5%

The firm has a market capitalization of $601.13 million, a price-to-earnings ratio of -0.73 and a beta of 0.58. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.91. The firm has a fifty day moving average price of $0.76 and a 200 day moving average price of $0.93.

About Sappi

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.