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

Chorus Limited (OTCMKTS:CHRYY) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analysts Forecast Growth

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

Chorus Price Performance

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

Chorus Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, October 18th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.7539 per share. The ex-dividend date was Tuesday, September 17th. This is a boost from Chorus’s previous dividend of $0.47.

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.