ENGIE (OTCMKTS:ENGIY) Shares Gap Down – Here’s Why

ENGIE – Sponsored ADR (OTCMKTS:ENGIY) gapped down prior to trading on Thursday . The stock had previously closed at $29.02, but opened at $28.00. ENGIE shares last traded at $27.89, with a volume of 60,787 shares.

Analysts Set New Price Targets

ENGIY has been the subject of a number of research analyst reports. Barclays reaffirmed an “overweight” rating on shares of ENGIE in a report on Thursday, June 18th. Morgan Stanley reissued an “overweight” rating on shares of ENGIE in a research note on Monday, May 11th. Finally, Zacks Research downgraded shares of ENGIE from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, ENGIE has an average rating of “Moderate Buy”.

ENGIE Trading Down 3.6%

The company has a debt-to-equity ratio of 1.06, a current ratio of 1.08 and a quick ratio of 1.03. The stock has a 50 day moving average price of $30.61 and a 200-day moving average price of $31.56.

About ENGIE

ENGIE is a Paris-headquartered multinational energy company engaged across the value chain of electricity and natural gas, along with associated infrastructure and services. The company develops, builds and operates power generation assets (including gas-fired plants and an expanding portfolio of renewable generation such as wind, solar and hydro), trades and markets energy commodities, and supplies energy to industrial, commercial and residential customers. ENGIE also provides energy infrastructure and networks, liquefied natural gas (LNG) solutions, and a range of energy services including energy efficiency, facility management and distributed energy systems.

The group traces its modern corporate roots to the 2008 combination of Gaz de France and Suez, and subsequently adopted the ENGIE name in 2015 as part of a strategic repositioning.