Tsingtao Brewery (OTCMKTS:TSGTY) Shares Gap Down – Here’s Why

Tsingtao Brewery Co. (OTCMKTS:TSGTY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $28.00, but opened at $26.00. Tsingtao Brewery shares last traded at $26.00, with a volume of 200 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Tsingtao Brewery from a “hold” rating to a “strong sell” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Tsingtao Brewery Price Performance

The company has a 50 day moving average of $28.54 and a two-hundred day moving average of $30.87.

Tsingtao Brewery Company Profile

Tsingtao Brewery Co, Ltd., founded in 1903 and headquartered in Qingdao, Shandong Province, is one of China’s longest-established and most widely recognized beer producers. The company’s core business centers on the brewing, packaging and distribution of beer under its flagship Tsingtao brand, alongside a portfolio of specialty and seasonal brews. Over more than a century of operation, Tsingtao has built a reputation for quality pale lagers and malt beverages, leveraging traditional brewing techniques alongside modern production processes.

In addition to its primary domestic operations, Tsingtao Brewery maintains an extensive export network spanning Asia, North America, Europe and other international markets.