Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Down – Here’s Why
by Jessica Moore · The Cerbat GemCommonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $103.02, but opened at $99.45. Commonwealth Bank of Australia shares last traded at $103.7950, with a volume of 3,111 shares traded.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group set a $130.18 target price on shares of Commonwealth Bank of Australia and gave the company a “sell” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $130.18.
Get Our Latest Stock Analysis on CMWAY
Commonwealth Bank of Australia Trading Up 0.7%
The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.18. The stock’s fifty day moving average price is $103.76 and its 200 day moving average price is $109.72.
About Commonwealth Bank of Australia
Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.
Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.