GrainCorp (OTCMKTS:GRCLF) Stock Passes Below 50 Day Moving Average – Here’s What Happened

GrainCorp Limited (OTCMKTS:GRCLF)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.62 and traded as low as $3.79. GrainCorp shares last traded at $3.79, with a volume of 200 shares.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada downgraded GrainCorp from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

GrainCorp Stock Performance

The company’s 50 day moving average is $4.62 and its two-hundred day moving average is $5.11.

About GrainCorp

GrainCorp Limited (OTCMKTS:GRCLF) is an Australian agribusiness and global provider of bulk storage, handling, processing and marketing services for grain and related commodities. The company’s integrated supply chain operations enable it to source grain directly from growers, manage inland storage and receival facilities across eastern Australia, and transport commodities to port terminals for domestic and international customers.

Within its core grain division, GrainCorp offers commodity marketing services, risk management solutions and logistics support for the movement of cereal grains such as wheat, barley and canola.