Renault (OTCMKTS:RNLSY) Hits New 12-Month Low – What’s Next?

Renault (OTCMKTS:RNLSY)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.13 and last traded at $7.19, with a volume of 15352 shares trading hands. The stock had previously closed at $7.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Berenberg Bank cut shares of Renault from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. UBS Group cut shares of Renault from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group initiated coverage on shares of Renault in a research note on Sunday, November 23rd. They issued a “hold” rating on the stock. Morgan Stanley cut Renault to an “underweight” rating in a report on Tuesday. Finally, HSBC reissued a “buy” rating on shares of Renault in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Renault Trading Down 0.7%

The company has a fifty day moving average price of $8.02 and a two-hundred day moving average price of $7.93.

About Renault

Renault SA is a French multinational automobile manufacturer founded in 1899 by Louis, Marcel and Fernand Renault. Headquartered in Boulogne-Billancourt, France, the company designs, produces and distributes a wide range of passenger cars, light commercial vehicles and electric vehicles under the Renault, Dacia and Alpine brands. Renault also develops powertrains, including combustion engines and electric motors, and provides related services such as financing, leasing and fleet management.

Throughout its history, Renault has been at the forefront of automotive innovation, introducing mass-produced vehicles in the early 20th century and pioneering mass-market electric cars in the 2010s.