COSCO SHIPPING (OTCMKTS:CICOF) Trading 16.4% Higher – Here’s Why

COSCO SHIPPING Holdings Co., Ltd. (OTCMKTS:CICOF) shares traded up 16.4% during trading on Friday . The stock traded as high as $1.85 and last traded at $1.85. 43,600 shares changed hands during mid-day trading, an increase of 1,193% from the average session volume of 3,372 shares. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lowered COSCO SHIPPING from a “neutral” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, COSCO SHIPPING currently has an average rating of “Sell”.

COSCO SHIPPING Stock Up 16.4%

The company has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.72.

About COSCO SHIPPING

COSCO SHIPPING (OTCMKTS:CICOF) is a global integrated shipping enterprise specializing in container liner services, bulk cargo transportation and comprehensive logistics solutions. As one of the world’s leading container carriers, the company operates a modern fleet of container vessels, dry bulk carriers and multipurpose ships. Its core offerings include scheduled liner services across key trade lanes, chartering services, ship management and terminal operations.

The company delivers end-to-end supply chain support through its logistics arm, which provides warehousing, inland transportation, freight forwarding and intermodal container services.