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

Renault (OTCMKTS:RNLSY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $7.77, but opened at $6.66. Renault shares last traded at $6.6770, with a volume of 13,825 shares changing hands.

Analyst Upgrades and Downgrades

RNLSY has been the subject of several research analyst reports. Berenberg Bank downgraded Renault from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. The Goldman Sachs Group initiated coverage on shares of Renault in a report on Sunday, November 23rd. They set a “hold” rating for the company. UBS Group downgraded shares of Renault from a “hold” rating to a “sell” rating in a research report on Tuesday, December 2nd. HSBC reaffirmed a “buy” rating on shares of Renault in a research note on Tuesday, January 13th. Finally, Zacks Research upgraded Renault from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Renault currently has an average rating of “Hold”.

Renault Stock Down 4.2%

The firm’s 50 day moving average is $7.73 and its 200-day moving average is $7.93.

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.