Befesa (OTCMKTS:BFSAF) Shares Up 12.1% – Here’s Why

Befesa S.A. (OTCMKTS:BFSAF) shares rose 12.1% on Tuesday . The company traded as high as $34.3790 and last traded at $34.3790. Approximately 1,500 shares changed hands during trading, an increase of 1,400% from the average daily volume of 100 shares. The stock had previously closed at $30.6545.

Wall Street Analyst Weigh In

Separately, Citigroup restated a “neutral” rating on shares of Befesa in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Befesa has an average rating of “Moderate Buy”.

Befesa Price Performance

The company has a fifty day simple moving average of $35.30 and a two-hundred day simple moving average of $31.91.

About Befesa

Befesa SA offers environmental recycling services to the steel and aluminum industries in European, Asian, and North American markets. It operates through two segments, Steel Dust Recycling Services and Aluminium Salt Slags Recycling Services. The Steel Dust Recycling Services segment collects and recycles crude steel dust and other steel residues generated in the production of crude, stainless, and galvanized steel; sells waelz oxide to zinc smelters; and treats crude steel dust. The Aluminium Salt Slags Recycling Services segment recycles salt slags; spent pot linings, a hazardous residue generated by primary aluminium producers; and recovers and sells salt, aluminium concentrate, and aluminium oxides.