Saab AB (publ) (OTCMKTS:SAABF) Stock Price Down 3.5% – Here’s Why

Saab AB (publ) (OTCMKTS:SAABF) shares dropped 3.5% during mid-day trading on Friday. The company traded as low as $60.1660 and last traded at $60.3585. Approximately 1,368 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 3,858 shares. The stock had previously closed at $62.55.

Saab AB (publ) Stock Performance

The company has a 50 day moving average price of $62.96 and a 200 day moving average price of $64.12.

About Saab AB (publ)

Saab AB (publ) is a Sweden-based defense and aerospace company that develops, manufactures and maintains advanced systems for military and civil security applications. Founded in 1937, the company has its headquarters in Stockholm, Sweden, and serves governments, armed forces and other customers in Sweden and international markets.

Saab’s operations include aeronautics, weapons and missile systems, command and control, sensors, surveillance and underwater systems. Its products and services include the Gripen fighter aircraft, GlobalEye airborne early-warning and control system, radar and electronic-warfare solutions, unmanned systems, training and simulation systems, and support and maintenance services.

The company also provides naval products through its Kockums business, including submarines, surface ships and related naval systems.