Shares of GlyEco Inc (OTCMKTS:GLYE) dropped 56.6% on Tuesday . The company traded as low as $0.23 and last traded at $0.23, approximately 21,170 shares changed hands during mid-day trading. An increase of 20,433% from the average daily volume of 103 shares. The stock had previously closed at $0.53.
Separately, ValuEngine cut GlyEco from a “buy” rating to a “hold” rating in a research note on Monday, October 21st.
The business has a 50 day moving average of $0.61 and a 200 day moving average of $1.09.
GlyEco, Inc, a specialty chemical company, develops, manufactures, and distributes performance fluids for the automotive, commercial, and industrial markets in North America. The company operates through two segments, Consumer and Industrial. Its Consumer segment provides antifreeze/coolant products; heating, ventilation, and air conditioning fluids; and waste glycol disposal services.
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