Carrefour (OTCMKTS:CRRFY) Stock Crosses Below 50 Day Moving Average – Here’s Why

Carrefour SA (OTCMKTS:CRRFY)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.68 and traded as low as $3.68. Carrefour shares last traded at $3.71, with a volume of 137,263 shares traded.

Wall Street Analyst Weigh In

CRRFY has been the subject of several research reports. Royal Bank Of Canada initiated coverage on shares of Carrefour in a research note on Monday, July 6th. They set a “moderate buy” rating for the company. UBS Group raised shares of Carrefour from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Carrefour Stock Up 0.8%

The firm’s fifty day moving average is $3.68 and its 200 day moving average is $3.73. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.87.

About Carrefour

Carrefour is a French multinational retail corporation established in 1959 and headquartered in Boulogne-Billancourt, France. As one of the world’s largest retail chains, the company pioneered the hypermarket concept in Europe, combining a supermarket and department store under one roof. Over the decades, Carrefour has expanded its footprint to encompass a variety of store formats, including hypermarkets, supermarkets, cash & carry outlets, convenience stores and e-commerce platforms, catering to a wide range of consumer needs.

Carrefour’s core business activities revolve around food retailing, non-food products and services.