Sappi (OTCMKTS:SPPJY) Sees Large Volume Increase – Here’s Why

Shares of Sappi Ltd. (OTCMKTS:SPPJY) saw strong trading volume on Tuesday . 85,100 shares traded hands during trading, an increase of 1,328% from the previous session’s volume of 5,960 shares.The stock last traded at $1.27 and had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Sappi has an average rating of “Hold”.

Sappi Trading Up 4.4%

The stock has a market cap of $765.38 million, a PE ratio of 8.04 and a beta of 0.85. The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $1.37 and its 200 day moving average price is $1.63.

Sappi (OTCMKTS:SPPJY) last issued its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Sappi had a net margin of 1.75% and a return on equity of 6.12%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.34 billion.

About Sappi

Sappi Limited, together with its subsidiaries, engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa. The company manufacture and sells dissolving pulp, and wood and paper pulp; graphic papers, coated and uncoated papers, and casting and release papers; and packaging and specialty papers, including packaging and specialty papers, including flexible packaging papers, label papers, functional paper packaging products, containerboards, paperboards, silicone base papers, and dye sublimation papers.