Coca-Cola HBC (OTCMKTS:CCHGY) Sees Strong Trading Volume on Analyst Upgrade

Shares of Coca-Cola HBC (OTCMKTS:CCHGY) saw unusually-strong trading volume on Wednesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. Approximately 24,213 shares were traded during mid-day trading, an increase of 177% from the previous session’s volume of 8,753 shares.The stock last traded at $47.24 and had previously closed at $47.16.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola HBC in a report on Friday, August 8th. Zacks Research cut Coca-Cola HBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Morgan Stanley began coverage on Coca-Cola HBC in a report on Thursday, October 2nd. They set an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Coca-Cola HBC Price Performance

The business has a 50-day moving average of $46.99 and a 200 day moving average of $50.48. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 0.89.

About Coca-Cola HBC

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages under franchise in Switzerland, the United Kingdom, North and Central America, rest of Europe, the Nordic countries, and internationally. The company offers sparkling soft drinks, adult sparkling, hydration drinks, juices, ready-to-drink tea and coffee, sports and energy drinks, dairy, stills, coffee, water, plant-based drinks, premium spirits, and snacks.