ALPEK (OTCMKTS:ALPKF) Stock Price Down 6.6% – What’s Next?

ALPEK, S.A.B. de C.V. (OTCMKTS:ALPKF) traded down 6.6% during trading on Thursday . The company traded as low as $0.50 and last traded at $0.50. 17,000 shares were traded during trading, a decline of 39% from the average session volume of 28,077 shares. The stock had previously closed at $0.5355.

Analysts Set New Price Targets

Separately, Santander upgraded shares of ALPEK to an “outperform” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

ALPEK Price Performance

The firm has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.54.

ALPEK Company Profile

Alpek, SAB. de C.V., together with its subsidiaries, operates as a petrochemical company in Mexico and internationally. It operates in two segments, Polyester, and Plastic and Chemicals. The Polyester segment produces purified terephthalic acid (PTA), an organic compound that is raw material for PET; polyethylene terephthalate (PET), a plastic resin for use in the beverage bottles, food containers, and consumer good packaging applications; recycled PET for new bottles and containers, strapping and packing supplies, and fibers for clothing and carpet; and polyester fibers, such as staple fiber for use in carpets, home furnishings, and garments; and filament for clothing, automotive interiors, and seatbelts, as well as canvases, conveyor belts, hoses, and other industrial application.