Prosus (OTCMKTS:PROSY) Sees Strong Trading Volume – Here’s Why

Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) saw strong trading volume on Tuesday. Approximately 2,591,367 shares were traded during trading, an increase of 122% from the average daily volume of 1,168,032 shares. The stock last traded at $8.34 and had previously closed at $8.41.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Prosus in a research report on Thursday, July 23rd. Zacks Research lowered Prosus from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.10.

Prosus Stock Performance

The company has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $9.22.

About Prosus

Prosus is a global consumer internet group that operates and invests in technology businesses. Its activities span online marketplaces and classifieds, food delivery, payments and fintech, and other digital services. Its portfolio includes businesses serving consumers and merchants across a range of markets. The company has operations and investments across Europe, Asia, Latin America and Africa. Prosus was formed from the international internet assets of South African group Naspers and became a separately listed company in 2019.