PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Shares Gap Up – Here’s What Happened

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) gapped up before the market opened on Thursday. The stock had previously closed at $16.45, but opened at $17.65. PT Indofood Sukses Makmur Tbk shares last traded at $17.65, with a volume of 539 shares.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of PT Indofood Sukses Makmur Tbk from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

PT Indofood Sukses Makmur Tbk Stock Performance

The business’s 50-day moving average is $19.35 and its two-hundred day moving average is $19.60.

PT Indofood Sukses Makmur Tbk Company Profile

PT Indofood Sukses Makmur Tbk is an Indonesia-based food company with operations spanning the production, distribution and marketing of consumer food products. The company’s portfolio includes instant noodles, dairy products, snack foods, food seasonings, nutrition products and beverages, with well-known brands such as Indomie.

Indofood also operates through businesses focused on flour milling and pasta production, agribusiness and food ingredients, and distribution. Its Bogasari division is a major producer of wheat flour and pasta in Indonesia, while the company’s agribusiness activities include the cultivation and processing of agricultural commodities and the production of cooking oils and related products.

Founded in 1990, Indofood serves consumers throughout Indonesia through an extensive distribution network and sells selected products in international markets.