Thales (OTCMKTS:THLLY) Stock Falls 2.4% After Analyst Downgrade

Thales S.A. (OTCMKTS:THLLY) dropped 2.4% during trading on Thursday after Rothschild & Co Redburn downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $49.84 and last traded at $49.92. Approximately 81,806 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 72,662 shares. The stock had previously closed at $51.15.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada started coverage on shares of Thales in a research note on Tuesday, August 11th. They set a “moderate buy” rating for the company. Citigroup reiterated a “buy” rating on shares of Thales in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Thales Stock Down 1.0%

The firm’s 50 day moving average price is $52.21 and its two-hundred day moving average price is $55.65.

Thales Company Profile

Thales is a French technology company serving the aerospace, defense, transportation and digital security markets. Its business includes avionics and air traffic management systems, defense electronics and communications, cybersecurity solutions, and digital identity technologies.

The company also develops systems for rail transportation, including signaling and related infrastructure technologies. Its products and services support governments, defense organizations, airlines, transportation operators and businesses around the world.

Thales traces its origins to the late 19th century and adopted its current name in 2000, following its history as Thomson-CSF.