Galp Energia, SGPS (OTCMKTS:GLPEY) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Galp Energia, SGPS, S.A. (OTCMKTS:GLPEY) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $8.34 and traded as low as $7.96. Galp Energia, SGPS shares last traded at $8.05, with a volume of 104,634 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on GLPEY. The Goldman Sachs Group upgraded Galp Energia, SGPS from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Berenberg Bank upgraded Galp Energia, SGPS to a “strong-buy” rating in a research note on Friday, November 22nd.

Galp Energia, SGPS Price Performance

The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 8.56 and a beta of 0.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.64. The business has a 50 day simple moving average of $8.34 and a 200-day simple moving average of $8.82.

Galp Energia, SGPS Company Profile

Galp Energia, SGPS, SA operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, Namibia, and Angola.