Cascades (OTCMKTS:CADNF) Stock Falls 2% – Here’s What Happened

Shares of Cascades Inc. (OTCMKTS:CADNF) fell 2% during mid-day trading on Monday. The stock traded as low as $12.45 and last traded at $12.45. 9,422 shares changed hands during trading, a decline of 79% from the average daily volume of 45,605 shares. The stock had previously closed at $12.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CADNF shares. TD Securities reiterated a “buy” rating on shares of Cascades in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Cascades in a research note on Monday. Royal Bank Of Canada restated an “outperform” rating on shares of Cascades in a report on Monday, August 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Cascades in a research report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Cascades Stock Performance

The firm’s fifty day simple moving average is $12.43 and its 200-day simple moving average is $9.68.

Cascades Company Profile

Cascades Inc is a Canadian company that develops, manufactures and converts packaging and tissue products primarily from recycled, renewable and responsibly managed fibers. Its operations support customers in the consumer goods, food, industrial, commercial and institutional markets.

The company’s product portfolio includes corrugated packaging, specialty and consumer packaging, containerboard, recycled boxboard, tissue papers, hand towels, bathroom tissue and related hygiene products.