Goldman Sachs Group Downgrades Haier Electronics Group (OTCMKTS:HRELF) to Buy

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Haier Electronics Group (OTCMKTS:HRELF) was downgraded by equities research analysts at Goldman Sachs Group from a “conviction-buy” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.

Separately, Deutsche Bank initiated coverage on Haier Electronics Group in a research note on Monday, June 29th. They set a “hold” rating for the company.

HRELF stock traded down $0.02 during trading on Thursday, reaching $3.80. 250 shares of the stock were exchanged, compared to its average volume of 4,367. The firm’s 50 day moving average is $3.31 and its 200 day moving average is $2.88. Haier Electronics Group has a twelve month low of $2.21 and a twelve month high of $3.83.

About Haier Electronics Group

Haier Electronics Group Co, Ltd., an investment holding company, engages in the research, development, manufacture, and sale of washing machines and water heaters under the Haier, Casarte, and Leader brands in Mainland China and internationally. It operates through three segments: Washing Machine Business, Water Heater and Water Purifier Business, and Channel Services Business.

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