Empire (OTCMKTS:EMLAF) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Empire Company Limited (OTCMKTS:EMLAF) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $37.01 and traded as low as $33.44. Empire shares last traded at $33.44, with a volume of 1,490 shares.

Wall Street Analyst Weigh In

EMLAF has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Empire in a research note on Friday, December 12th. CIBC restated an “outperform” rating on shares of Empire in a research report on Friday, December 12th. Finally, TD Securities reaffirmed a “hold” rating on shares of Empire in a research note on Friday, December 12th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Empire Price Performance

The business has a fifty day moving average price of $35.29 and a two-hundred day moving average price of $36.92.

About Empire

Empire Company Limited trades on the OTC Pink under the symbol EMLAF. It is a leading Canadian food retailer and distributor, operating a network of more than 1,500 locations across all provinces. The company’s retail segment includes national and regional banners such as Sobeys, Safeway (Western Canada), FreshCo, IGA (Quebec), Foodland (Atlantic Canada), Thrifty Foods and Price Chopper (Ontario). Through its wholesale division, Empire serves independent grocers and franchises markets under the Empire Wholesale Club and other distribution outlets.

In addition to traditional supermarket operations, Empire has expanded its digital and e-commerce capabilities, offering online grocery ordering and home delivery services to meet shifting consumer preferences.