Italgas (OTCMKTS:ITGGF) Trading 9% Higher – Here’s What Happened

Italgas S.p.A. (OTCMKTS:ITGGF) traded up 9% during mid-day trading on Wednesday . The stock traded as high as $12.05 and last traded at $12.05. 100 shares were traded during mid-day trading, a decline of 96% from the average session volume of 2,456 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

Several brokerages have commented on ITGGF. Deutsche Bank Aktiengesellschaft lowered shares of Italgas to a “hold” rating in a research note on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Italgas in a report on Monday, November 3rd. Citigroup downgraded Italgas to a “neutral” rating in a report on Friday, October 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Italgas in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Italgas presently has a consensus rating of “Moderate Buy”.

Italgas Stock Up 9.0%

The stock’s fifty day simple moving average is $10.91 and its two-hundred day simple moving average is $9.76.

Italgas Company Profile

Italgas S.p.A. is one of Europe’s leading operators in the regulated natural gas distribution sector. Through its network of concessions, the company designs, constructs and manages pipelines, metering stations and related infrastructure to deliver safe, efficient gas supply to residential, commercial and industrial end users. Its core business activities include network maintenance, emergency response services, and meter installation and management, all under long-term regulated tariffs set by national authorities.

Established in Turin in 1837, Italgas is among the oldest gas distribution companies in Europe.