Befesa (OTC:BFSAF) Trading 21.8% Higher – Here’s What Happened

Befesa S.A. (OTC:BFSAF) rose 21.8% on Tuesday . The stock traded as high as $34.53 and last traded at $34.53. Approximately 117 shares were traded during trading, an increase of 17% from the average daily volume of 100 shares. The stock had previously closed at $28.35.

Analyst Ratings Changes

Several brokerages have commented on BFSAF. UBS Group initiated coverage on Befesa in a research report on Friday, September 19th. They issued a “buy” rating on the stock. Citigroup reaffirmed a “neutral” rating on shares of Befesa in a research report on Friday, September 26th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Befesa in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Befesa presently has an average rating of “Moderate Buy”.

Befesa Trading Up 21.8%

The business has a 50-day moving average price of $25.53 and a 200-day moving average price of $25.50.

About Befesa

Befesa SA offers environmental recycling services to the steel and aluminum industries in European, Asian, and North American markets. It operates through two segments, Steel Dust Recycling Services and Aluminium Salt Slags Recycling Services. The Steel Dust Recycling Services segment collects and recycles crude steel dust and other steel residues generated in the production of crude, stainless, and galvanized steel; sells waelz oxide to zinc smelters; and treats crude steel dust.