Anhui Conch Cement (OTCMKTS:AHCHY) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Anhui Conch Cement Company Limited (OTCMKTS:AHCHY) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.54 and traded as low as $12.80. Anhui Conch Cement shares last traded at $12.81, with a volume of 20,709 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Anhui Conch Cement from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th.

Anhui Conch Cement Stock Performance

The company has a current ratio of 3.40, a quick ratio of 3.03 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $13.58 billion, a PE ratio of 13.34 and a beta of 0.39. The firm’s 50-day simple moving average is $13.80 and its 200-day simple moving average is $13.56.

Anhui Conch Cement (OTCMKTS:AHCHY) last announced its quarterly earnings data on Monday, March 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.16). Anhui Conch Cement had a return on equity of 3.72% and a net margin of 6.70%. The firm had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $47.10 billion.

Anhui Conch Cement Company Profile

Anhui Conch Cement Company Limited, together with its subsidiaries, manufactures, sells, and trades in clinker and cement products. The company operates through five segments: Eastern China, Central China, Southern China, Western China, and Overseas. It provides construction and installation services for industrial purposes; logistic services; and mining and related services.