Renault (OTCMKTS:RNLSY) Shares Gap Down – What’s Next?

Shares of 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

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

Renault Stock Down 2.3%

The firm’s fifty day moving average price is $8.00 and its 200 day moving average price is $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.