Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY)’s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$12.49 and traded as high as C$12.69. Svenska Cellulosa Aktiebolaget SCA (publ) shares last traded at C$12.69, with a volume of 255 shares.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SCABY. Jefferies Financial Group cut shares of Svenska Cellulosa Aktiebolaget SCA (publ) to a “hold” rating in a research report on Monday, October 26th. Pareto Securities downgraded shares of Svenska Cellulosa Aktiebolaget SCA (publ) to a “hold” rating in a report on Sunday, October 25th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Svenska Cellulosa Aktiebolaget SCA (publ) Price Performance

The stock has a fifty day moving average price of C$12.49 and a 200-day moving average price of C$11.97.

About Svenska Cellulosa Aktiebolaget SCA (publ)

Svenska Cellulosa Aktiebolaget SCA is a Swedish forest-products company based in Sundsvall. Established in 1929 through the consolidation of several forest companies, it focuses on managing forests and producing renewable products from wood and other forest resources.

SCA’s operations include forestry, wood products, pulp, containerboard and renewable energy. Its products include sawn timber, pulp and kraftliner, a paper used to make corrugated packaging. The company also provides forest-management and logistics services.

SCA owns and manages extensive forest holdings in northern Sweden, which supply much of the raw material for its operations.