Tenaga Nasional Berhad (OTCMKTS:TNABY) Shares Gap Down – Here’s Why

Tenaga Nasional Berhad (OTCMKTS:TNABY) shares gapped down before the market opened on Friday . The stock had previously closed at $15.34, but opened at $13.9368. Tenaga Nasional Berhad shares last traded at $13.9368, with a volume of 335 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research raised Tenaga Nasional Berhad to a “hold” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Tenaga Nasional Berhad currently has an average rating of “Hold”.

Tenaga Nasional Berhad Stock Down 9.1%

The stock has a market capitalization of $20.16 billion, a P/E ratio of 49.77 and a beta of -0.35. The company has a fifty day simple moving average of $14.54 and a two-hundred day simple moving average of $14.45.

About Tenaga Nasional Berhad

Tenaga Nasional Berhad (OTCMKTS: TNABY) is Malaysia’s largest integrated electricity utility, principally engaged in the generation, transmission, distribution and retail of electricity. The company operates a broad portfolio of power plants and manages the national grid infrastructure that delivers electricity to residential, commercial and industrial customers. Its operations encompass system planning, network operation and maintenance, meter services and customer supply functions typical of a vertically integrated utility.

TNB’s generation assets include thermal and hydroelectric facilities and the company has been expanding its participation in renewable energy and grid modernization initiatives.