Symrise (OTCMKTS:SYIEY) Trading 9.2% Higher – Time to Buy?

Symrise AG Unsponsored ADR (OTCMKTS:SYIEY)’s share price was up 9.2% during mid-day trading on Wednesday . The company traded as high as $23.80 and last traded at $23.80. Approximately 3,315 shares traded hands during trading, a decline of 98% from the average daily volume of 139,803 shares. The stock had previously closed at $21.80.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SYIEY shares. Zacks Research upgraded shares of Symrise from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. The Goldman Sachs Group downgraded Symrise from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group raised Symrise to a “hold” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Symrise has an average rating of “Hold”.

Symrise Trading Up 1.2%

The firm’s 50-day simple moving average is $22.00 and its two-hundred day simple moving average is $21.26.

About Symrise

Symrise AG is a global supplier of fragrances, flavors, cosmetic active ingredients and raw materials for the food and beverage, personal care and household industries. Headquartered in Holzminden, Germany, the company develops scent and taste solutions that are used in a wide range of consumer products, from perfumes and personal care formulations to soft drinks, confections and savory seasonings.

The company’s core business is organized into two divisions. The Flavors & Nutrition division creates taste concepts, food ingredients and texture solutions that enhance the sensory appeal and nutritional profile of a variety of foods and beverages.