Befesa (OTCMKTS:BFSAF) Stock Price Up 10.3% – Here’s What Happened

Befesa S.A. (OTCMKTS:BFSAF) rose 10.3% during mid-day trading on Friday . The company traded as high as $40.00 and last traded at $40.00. Approximately 1,500 shares changed hands during trading, an increase of 88% from the average daily volume of 800 shares. The stock had previously closed at $36.2794.

Analyst Ratings Changes

BFSAF has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Befesa in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Befesa in a report on Tuesday, May 5th. Finally, Citigroup reissued a “neutral” rating on shares of Befesa in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Befesa Trading Up 10.3%

The business’s 50 day simple moving average is $35.18 and its 200 day simple moving average is $33.26.

Befesa Company Profile

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. The Aluminium Salt Slags Recycling Services segment recycles salt slags; spent pot linings, a hazardous residue generated by primary aluminium producers; and recovers and sells salt, aluminium concentrate, and aluminium oxides.