Signify (OTCMKTS:SFFYF) Stock Price Down 7.7% – Here’s Why

Signify (OTCMKTS:SFFYF) fell 7.7% during trading on Thursday . The company traded as low as $21.10 and last traded at $21.10. 710 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 553 shares. The stock had previously closed at $22.87.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reissued an “underweight” rating on shares of Signify in a research report on Wednesday, December 3rd. Morgan Stanley downgraded shares of Signify from an “overweight” rating to an “underweight” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Signify Price Performance

The stock has a 50 day moving average price of $23.41 and a 200-day moving average price of $24.59.

Signify Company Profile

Signify N.V. (OTCMKTS: SFFYF) is a global leader in lighting products, systems and services. Established as a standalone company following its spin-off from Koninklijke Philips N.V. in 2016, Signify leverages decades of expertise in illumination technology. The company’s offerings span conventional and energy-efficient LED lamps, luminaires and connected lighting systems designed for both professional and consumer markets.

Signify’s product portfolio includes smart lighting solutions under the Philips Hue brand, digital lighting controls, and Internet of Things (IoT) enabled platforms such as Interact.