Chorus (OTCMKTS:CHRYY) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Chorus Limited (OTCMKTS:CHRYY)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $26.62 and traded as low as $26.03. Chorus shares last traded at $26.03, with a volume of 300 shares trading hands.

Analysts Set New Price Targets

Separately, UBS Group upgraded shares of Chorus from a “strong sell” rating to a “hold” rating in a research report on Sunday, October 13th.

Chorus Price Performance

The firm’s 50-day simple moving average is $26.62 and its 200 day simple moving average is $24.00. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 4.95.

Chorus Increases Dividend

The company also recently declared a dividend, which was paid on Friday, October 18th. Stockholders of record on Tuesday, September 17th were issued a $0.7539 dividend. This is a positive change from Chorus’s previous dividend of $0.47. The ex-dividend date was Tuesday, September 17th.

About Chorus

Chorus Limited, together with its subsidiaries, engages in the provision of fixed line communications infrastructure services in New Zealand. It offers phone and broadband services for residential and business customers; data and voice services; and solutions for transport and infrastructure. The company also builds and maintains a network of fibre and copper cables, local telephone exchanges, and cabinets.