Tsingtao Brewery (OTCMKTS:TSGTY) Shares Gap Up – Still a Buy?

Tsingtao Brewery Co. (OTCMKTS:TSGTY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $25.60, but opened at $26.50. Tsingtao Brewery shares last traded at $26.00, with a volume of 224 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Tsingtao Brewery from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Tsingtao Brewery Price Performance

The firm has a 50-day moving average of $27.95 and a two-hundred day moving average of $30.26.

Tsingtao Brewery Company Profile

Tsingtao Brewery Co, Ltd. is a Chinese beverage company best known for producing and selling beer under the Tsingtao brand. The company offers a range of lagers and other beer products, including its flagship Tsingtao beer and regional brands such as Laoshan. Its portfolio includes products designed for different tastes, occasions and price segments.

The company traces its history to 1903, when the brewery was established in Qingdao, Shandong Province. Tsingtao Brewery has since expanded beyond its original facility through a broader brewing, distribution and sales network serving markets throughout mainland China.