FLSmidth & Co. A/S (OTCMKTS:FLIDY) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

FLSmidth & Co. A/S (OTCMKTS:FLIDY) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.81 and traded as high as $8.84. FLSmidth & Co. A/S shares last traded at $8.84, with a volume of 1,014 shares trading hands.

Analysts Set New Price Targets

Separately, UBS Group upgraded shares of FLSmidth & Co. A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

FLSmidth & Co. A/S Trading Down 2.3%

The business has a 50-day moving average price of $7.81 and a 200-day moving average price of $7.98.

FLSmidth & Co. A/S (OTCMKTS:FLIDY) last posted its quarterly earnings results on Wednesday, August 19th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $613.53 million for the quarter, compared to analyst estimates of $542.44 million.

FLSmidth & Co. A/S Company Profile

FLSmidth & Co A/S is a Denmark‐based engineering group founded in 1882 by Frederik Læssøe Smidth. The company specializes in the design, manufacture and installation of equipment and services for the global cement and mining industries. Headquartered in Copenhagen, FLSmidth has built a reputation for supplying end‐to‐end solutions that support both greenfield and brownfield projects worldwide.

FLSmidth’s core offerings include crushing, grinding, separation and pyro‐processing equipment, as well as material handling systems and pumps.