Solvay SA (OTCMKTS:SLVYY – Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,335 shares, a drop of 81.1% from the May 14th total of 12,348 shares. Based on an average daily trading volume, of 26,759 shares, the days-to-cover ratio is presently 0.1 days.
Solvay Trading Up 1.2%
Shares of SLVYY traded up $0.04 during mid-day trading on Thursday, reaching $3.01. The company had a trading volume of 5,050 shares, compared to its average volume of 43,901. The company’s 50 day simple moving average is $3.08 and its 200 day simple moving average is $3.08. Solvay has a 1-year low of $2.77 and a 1-year high of $3.52.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on SLVYY. Deutsche Bank Aktiengesellschaft upgraded shares of Solvay from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays restated an “underweight” rating on shares of Solvay in a research note on Wednesday, February 25th. Finally, Oddo Bhf downgraded shares of Solvay to a “neutral” rating in a research note on Tuesday, February 17th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Solvay has a consensus rating of “Reduce”.
About Solvay
Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The Materials segment offers specialty polymers, including aromatic polymers, high barrier polymers, and fluoropolymers for the electronics, automotive, aerospace, and healthcare industries; and composite materials for aerospace engineered materials market. The Chemicals segment produces and sells soda ash and sodium bicarbonate primarily to the flat and container glass industries, as well as for use in detergents, pharmaceutical, and feed and food industries; hydrogen peroxide for use primarily in the paper industry to bleach pulp, as well as chemicals, electronics, food, mining, and environment; and dispersible silica for tire manufacturers; and solvent solutions, phenols and derivatives, polyamide derivatives and smart, functional, and sustainable yarns and polymers.
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