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

Tenaga Nasional Berhad (OTCMKTS:TNABY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $13.9348, but opened at $14.5675. Tenaga Nasional Berhad shares last traded at $14.5675, with a volume of 198 shares traded.

Wall Street Analyst Weigh In

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

Tenaga Nasional Berhad Stock Performance

The firm’s 50 day simple moving average is $14.77 and its 200 day simple moving average is $14.41. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 34.43 and a beta of -0.35.

Tenaga Nasional Berhad Company Profile

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.