Mitsui Chemicals (OTCMKTS:MITUY) Stock Jumps 3.6% – Here’s What Happened

Mitsui Chemicals, Inc. (OTCMKTS:MITUY) shot up 3.6% during mid-day trading on Monday. The stock traded as high as $13.3350 and last traded at $13.3350. 111 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 797 shares. The stock had previously closed at $12.8740.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut shares of Mitsui Chemicals from a “neutral” rating to a “sell” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Mitsui Chemicals has a consensus rating of “Sell”.

Mitsui Chemicals Price Performance

The stock has a 50 day moving average price of $12.30 and a two-hundred day moving average price of $11.92.

About Mitsui Chemicals

Mitsui Chemicals, Inc is a Japan-based chemical company that develops, manufactures and markets a broad range of basic and specialty chemicals. Its products are used in industries including automotive, electronics, packaging, construction, agriculture, healthcare and personal care.

The company’s portfolio includes polyolefins, elastomers, polyurethane materials, specialty resins, films, adhesives, coatings materials, catalysts and agricultural chemicals. Mitsui Chemicals also supplies healthcare-related products such as dental materials, vision-care materials and nonwoven fabrics, as well as functional materials used in food and pharmaceutical packaging.

Mitsui Chemicals was formed in 1997 through the merger of Mitsui Petrochemical Industries and Mitsui Toatsu Chemicals, combining businesses with roots in Japan’s petrochemical industry.