Heidelberg Materials (OTCMKTS:HDELY) Stock Crosses Below 50 Day Moving Average – Here’s Why

Shares of Heidelberg Materials AG (OTCMKTS:HDELY) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $24.93 and traded as low as $24.83. Heidelberg Materials shares last traded at $24.93, with a volume of 27,257 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HDELY. The Goldman Sachs Group began coverage on shares of Heidelberg Materials in a report on Thursday, September 4th. They set a “buy” rating on the stock. Citigroup reissued a “neutral” rating on shares of Heidelberg Materials in a report on Thursday, July 10th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Heidelberg Materials in a report on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Heidelberg Materials currently has an average rating of “Hold”.

Heidelberg Materials Stock Down 1.7%

The company’s fifty day simple moving average is $24.93 and its 200-day simple moving average is $24.93.

About Heidelberg Materials

Heidelberg Materials AG, together with its subsidiaries, produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. It provides cement products; natural stone aggregates, including sand and gravel; crushed aggregates comprising stone chippings and crushed stones; and ready-mixed concrete for use in the construction of tunnels or bridges, office buildings, or schools, as well as to produce precast concrete parts, such as stairs, ceiling elements, or structural components.