EDP – Energias de Portugal (OTCMKTS:ELCPF) Stock Price Down 1.3% – Time to Sell?

EDP – Energias de Portugal, S.A. (OTCMKTS:ELCPF)’s stock price fell 1.3% during trading on Monday . The stock traded as low as $4.86 and last traded at $5.03. 3,898 shares were traded during trading, a decline of 88% from the average session volume of 31,520 shares. The stock had previously closed at $5.0950.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELCPF. The Goldman Sachs Group upgraded EDP – Energias de Portugal to a “neutral” rating in a research note on Thursday. Citigroup began coverage on EDP – Energias de Portugal in a research note on Thursday, May 28th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, EDP – Energias de Portugal has a consensus rating of “Moderate Buy”.

EDP – Energias de Portugal Stock Performance

The company has a 50 day simple moving average of $5.07 and a 200 day simple moving average of $4.84.

EDP – Energias de Portugal Company Profile

EDP – Energias de Portugal (OTCMKTS: ELCPF) is a leading European energy company headquartered in Lisbon, Portugal. The firm is engaged in the generation, distribution and supply of electricity and natural gas, operating both conventional power plants and an extensive portfolio of renewable assets. Through its renewables arm, EDP Renováveis, the company develops, constructs and manages wind, solar and hydroelectric projects across multiple continents.

Founded in 1976 following the consolidation of several state-owned utilities, EDP underwent a phased privatization beginning in 1997 and has since expanded its footprint beyond the Iberian Peninsula.