Trinseo (NYSE:TSE) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Trinseo PLC (NYSE:TSE)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.83 and traded as low as $0.5624. Trinseo shares last traded at $0.6460, with a volume of 988,445 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSE shares. Zacks Research raised Trinseo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Trinseo in a report on Monday, December 29th. Finally, Alembic Global Advisors restated a “neutral” rating and set a $1.00 price objective on shares of Trinseo in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $1.00.

Trinseo Stock Up 5.3%

The firm has a market capitalization of $22.74 million, a price-to-earnings ratio of -0.06 and a beta of 1.45. The company has a fifty day moving average price of $0.83 and a two-hundred day moving average price of $1.92.

Trinseo (NYSE:TSE) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($2.41) EPS for the quarter, missing the consensus estimate of ($1.96) by ($0.45). The company had revenue of $743.20 million for the quarter, compared to analysts’ expectations of $792.00 million. On average, equities analysts anticipate that Trinseo PLC will post -3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinseo

A number of hedge funds and other institutional investors have recently made changes to their positions in TSE. Owl Creek Asset Management L.P. grew its stake in shares of Trinseo by 337.0% in the 2nd quarter. Owl Creek Asset Management L.P. now owns 1,669,952 shares of the basic materials company’s stock valued at $5,210,000 after purchasing an additional 1,287,854 shares during the last quarter. Icon Advisers Inc. Co. purchased a new stake in shares of Trinseo during the second quarter worth approximately $2,340,000. Geode Capital Management LLC lifted its holdings in shares of Trinseo by 105.8% during the second quarter. Geode Capital Management LLC now owns 823,044 shares of the basic materials company’s stock worth $2,568,000 after purchasing an additional 423,205 shares during the period. Acadian Asset Management LLC grew its position in Trinseo by 267.9% in the 1st quarter. Acadian Asset Management LLC now owns 329,306 shares of the basic materials company’s stock valued at $1,208,000 after buying an additional 239,793 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Trinseo by 43.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 343,604 shares of the basic materials company’s stock valued at $1,264,000 after buying an additional 103,294 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Trinseo Company Profile

Trinseo (NYSE: TSE) is a global materials company specializing in the production of plastics, latex binders, synthetic rubber and specialty polymers. The company’s portfolio includes polystyrene, acrylonitrile-butadiene-styrene (ABS), polycarbonate, styrene-butadiene rubber and various latex products. These materials serve as key components in a wide range of end markets, such as automotive, electronics, appliances, medical devices, consumer goods and paper and board coatings.

Founded in 2010 through the spin-off of certain businesses from The Dow Chemical Company, Trinseo began trading as Styron before adopting its current name in 2012.