Sappi (OTCMKTS:SPPJY) Stock Price Up 10% – Here’s Why

Sappi Ltd. (OTCMKTS:SPPJY) shot up 10% on Friday . The stock traded as high as $1.0175 and last traded at $1.0175. 7,000 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 14,689 shares. The stock had previously closed at $0.9250.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Sappi currently has a consensus rating of “Hold”.

Sappi Stock Up 15.7%

The business has a fifty day moving average of $0.76 and a 200 day moving average of $0.93. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The firm has a market cap of $646.90 million, a P/E ratio of -0.79 and a beta of 0.58.

Sappi Company Profile

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.