Renault (OTCMKTS:RNLSY) Shares Gap Down – Here’s Why

Renault (OTCMKTS:RNLSY) gapped down prior to trading on Friday . The stock had previously closed at $7.50, but opened at $7.10. Renault shares last traded at $7.09, with a volume of 247 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley downgraded Renault to an “underweight” rating in a research note on Tuesday. HSBC reissued a “buy” rating on shares of Renault in a research report on Tuesday, January 13th. The Goldman Sachs Group started coverage on shares of Renault in a report on Sunday, November 23rd. They set a “hold” rating for the company. UBS Group lowered shares of Renault from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. Finally, Berenberg Bank lowered Renault from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Renault Price Performance

The business has a 50 day moving average price of $8.02 and a 200-day moving average price of $7.93.

Renault Company Profile

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.