Enagas (OTCMKTS:ENGGY) Shares Cross Above 200 Day Moving Average – Here’s Why

Enagas SA Unsponsored ADR (OTCMKTS:ENGGY)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.85 and traded as high as $7.88. Enagas shares last traded at $7.8670, with a volume of 1,909 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on ENGGY. Deutsche Bank Aktiengesellschaft lowered Enagas to a “sell” rating in a report on Monday. Citigroup downgraded Enagas from a “neutral” rating to a “sell” rating in a research note on Wednesday, December 3rd. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, Enagas has an average rating of “Sell”.

Enagas Trading Down 2.2%

The business’s fifty day simple moving average is $7.95 and its 200-day simple moving average is $7.85. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.44.

About Enagas

Enagás is Spain’s primary natural gas transmission company, specializing in the development, operation and maintenance of high-pressure gas pipeline networks and regasification terminals. The company manages over 12,000 kilometers of gas pipelines across the country and operates six strategic regasification plants, enabling the efficient receipt and redistribution of liquefied natural gas (LNG) imports. Enagás also provides technical management and system operator services, ensuring the stability and security of the national gas grid under a regulated framework.

Founded in 1972 to coordinate Spain’s burgeoning gas infrastructure, Enagás was partially privatized and listed on the Madrid Stock Exchange in 2002, becoming a constituent of the IBEX 35 index.