Schibsted ASA (OTCMKTS:SBSNY) Shares Down 0.7% – Here’s Why

Shares of Schibsted ASA (OTCMKTS:SBSNY) were down 0.7% during mid-day trading on Friday . The company traded as low as $28.25 and last traded at $28.79. Approximately 7,319 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 10,501 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group downgraded Schibsted ASA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Schibsted ASA Stock Performance

The stock’s 50-day moving average price is $27.87 and its two-hundred day moving average price is $33.71.

About Schibsted ASA

Schibsted ASA is a Norway-based media and technology group headquartered in Oslo. Established in 1839 with the founding of the newspaper Aftenposten, the company has evolved into a leading digital operator in classifieds, online marketplaces and news media. Schibsted leverages data-driven insights and technology platforms to connect buyers and sellers, as well as to deliver news and content to audiences across multiple channels.

In its media division, Schibsted publishes prominent Scandinavian news brands, including Aftenposten in Norway and Verdens Gang (VG), offering both print and digital editions.