Renault (OTCMKTS:RNLSY) Shares Gap Down – Here’s What Happened

Shares of Renault (OTCMKTS:RNLSY) gapped down prior to trading on Wednesday . The stock had previously closed at $8.30, but opened at $7.95. Renault shares last traded at $7.95, with a volume of 6,177 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RNLSY. The Goldman Sachs Group began coverage on shares of Renault in a report on Sunday, November 23rd. They set a “hold” rating on the stock. Zacks Research raised shares of Renault from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, UBS Group cut Renault from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Renault Stock Performance

The company’s 50 day moving average price is $8.15 and its 200-day moving average price is $8.17.

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.