Ørsted A/S (OTCMKTS:DNNGY) Shares Gap Up – Here’s What Happened

Shares of Ørsted A/S (OTCMKTS:DNNGY) gapped up before the market opened on Thursday. The stock had previously closed at $6.6699, but opened at $7.66. Ørsted A/S shares last traded at $7.21, with a volume of 2,988 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised shares of Ørsted A/S to a “moderate buy” rating in a report on Tuesday, September 1st. The Goldman Sachs Group cut shares of Ørsted A/S from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Ørsted A/S Price Performance

The firm has a 50 day moving average of $6.74 and a 200-day moving average of $7.53.

About Ørsted A/S

Ørsted A/S is a Danish renewable energy company focused primarily on developing, constructing, owning and operating offshore wind farms. Its activities also include onshore wind, solar power, energy storage and other renewable energy projects, as well as related operations and maintenance services.

The company was established in 1972 as Dansk Naturgas, later known as DONG Energy, and initially operated across oil, natural gas and conventional energy markets. Following a strategic transition away from fossil fuels, the company adopted the name Ørsted in 2017 to reflect its focus on renewable energy.