Italgas (OTCMKTS:ITGGF) Shares Down 3.9% – Time to Sell?

Shares of Italgas S.p.A. (OTCMKTS:ITGGF) traded down 3.9% during mid-day trading on Monday . The company traded as low as $10.21 and last traded at $10.21. 5,000 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 7,041 shares. The stock had previously closed at $10.6230.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Italgas in a research report on Wednesday, July 29th. Citigroup raised shares of Italgas from a “neutral” rating to a “buy” rating in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Italgas in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Italgas Price Performance

The stock has a 50-day simple moving average of $11.47 and a 200-day simple moving average of $11.85.

About Italgas

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.