Solvay (OTC:SLVYY) Trading 1.7% Higher – Time to Buy?

Solvay SA (OTC:SLVYY) shares rose 1.7% on Thursday . The company traded as high as $3.00 and last traded at $2.97. Approximately 79,127 shares were traded during mid-day trading, an increase of 91% from the average daily volume of 41,359 shares. The stock had previously closed at $2.92.

Analysts Set New Price Targets

SLVYY has been the topic of a number of research analyst reports. Citigroup reissued a “neutral” rating on shares of Solvay in a research note on Tuesday, September 30th. Sanford C. Bernstein downgraded shares of Solvay to a “market perform” rating in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut Solvay from a “hold” rating to a “sell” rating in a research note on Monday, November 24th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Solvay has a consensus rating of “Reduce”.

Solvay Trading Up 1.3%

The company has a 50-day moving average price of $3.12 and a 200-day moving average price of $3.17.

About Solvay

Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The Materials segment offers specialty polymers, including aromatic polymers, high barrier polymers, and fluoropolymers for the electronics, automotive, aerospace, and healthcare industries; and composite materials for aerospace engineered materials market. The Chemicals segment produces and sells soda ash and sodium bicarbonate primarily to the flat and container glass industries, as well as for use in detergents, pharmaceutical, and feed and food industries; hydrogen peroxide for use primarily in the paper industry to bleach pulp, as well as chemicals, electronics, food, mining, and environment; and dispersible silica for tire manufacturers; and solvent solutions, phenols and derivatives, polyamide derivatives and smart, functional, and sustainable yarns and polymers.