Renault (OTCMKTS:RNLSY) Sees Strong Trading Volume – Still a Buy?

Renault (OTCMKTS:RNLSY) shares saw unusually-strong trading volume on Wednesday . Approximately 58,202 shares were traded during trading, an increase of 43% from the previous session’s volume of 40,833 shares.The stock last traded at $7.6150 and had previously closed at $7.38.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RNLSY shares. HSBC reaffirmed a “buy” rating on shares of Renault in a report on Tuesday, January 13th. Zacks Research raised Renault from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. UBS Group cut Renault from a “hold” rating to a “sell” rating in a report on Tuesday, December 2nd. Berenberg Bank lowered Renault from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of Renault in a research note on Sunday, November 23rd. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Renault Price Performance

The business’s fifty day moving average is $8.14 and its 200-day moving average is $8.04.

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.