ENGIE (OTCMKTS:ENGIY) Shares Gap Down – What’s Next?

ENGIE – Sponsored ADR (OTCMKTS:ENGIY) shares gapped down before the market opened on Thursday . The stock had previously closed at $29.02, but opened at $28.00. ENGIE shares last traded at $27.89, with a volume of 60,787 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ENGIY. Morgan Stanley reaffirmed an “overweight” rating on shares of ENGIE in a research report on Monday, May 11th. Zacks Research downgraded ENGIE from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Barclays restated an “overweight” rating on shares of ENGIE in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

ENGIE Price Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 1.08 and a quick ratio of 1.03. The company has a 50 day moving average price of $30.50 and a 200 day moving average price of $31.52.

About ENGIE

ENGIE is a Paris-headquartered multinational energy company engaged across the value chain of electricity and natural gas, along with associated infrastructure and services. The company develops, builds and operates power generation assets (including gas-fired plants and an expanding portfolio of renewable generation such as wind, solar and hydro), trades and markets energy commodities, and supplies energy to industrial, commercial and residential customers. ENGIE also provides energy infrastructure and networks, liquefied natural gas (LNG) solutions, and a range of energy services including energy efficiency, facility management and distributed energy systems.

The group traces its modern corporate roots to the 2008 combination of Gaz de France and Suez, and subsequently adopted the ENGIE name in 2015 as part of a strategic repositioning.