UniCredit (OTCMKTS:UNCRY) Shares Gap Down After Analyst Downgrade

UniCredit S.p.A. Unsponsored ADR (OTCMKTS:UNCRY) gapped down prior to trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $41.91, but opened at $39.76. UniCredit shares last traded at $39.94, with a volume of 12,722 shares changing hands.

A number of other research analysts have also issued reports on the company. Morgan Stanley upgraded UniCredit from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, February 10th. Erste Group Bank lowered shares of UniCredit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Citigroup reiterated a “buy” rating on shares of UniCredit in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, UniCredit has an average rating of “Moderate Buy”.

UniCredit Price Performance

The company’s 50-day simple moving average is $39.23 and its 200-day simple moving average is $39.42.

UniCredit Company Profile

UniCredit S.p.A. is an international banking group headquartered in Milan, Italy, offering a broad range of banking and financial services to retail, corporate and institutional clients. The firm operates as a universal bank, combining traditional deposit-taking and lending with capital markets activities, transaction banking and advisory services. UniCredit provides consumer and commercial loans, mortgage financing, deposit accounts, payment and card services, and wealth management solutions for private clients.

On the corporate and institutional side, UniCredit offers relationship banking, corporate lending, trade and export finance, cash management, custody and securities services, and investment banking capabilities including debt and equity capital markets and structured finance.