ENN Energy (OTCMKTS:XNGSY) Shares Gap Down – Here’s Why

ENN Energy Holdings Ltd. (OTCMKTS:XNGSY) gapped down prior to trading on Wednesday . The stock had previously closed at $34.74, but opened at $33.52. ENN Energy shares last traded at $34.85, with a volume of 1,314 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of ENN Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

ENN Energy Stock Performance

The company has a 50-day simple moving average of $35.99 and a 200-day simple moving average of $34.23.

About ENN Energy

ENN Energy Holdings Limited is a leading city gas distribution and integrated energy services provider in the People’s Republic of China. The company’s core business spans the purchase, transmission and sale of natural gas, liquefied natural gas (LNG), compressed natural gas (CNG) and liquefied petroleum gas (LPG) through an extensive pipeline network. In addition to its traditional piped gas operations, ENN Energy offers installation and maintenance of gas appliances, emergency response services and energy consulting for residential, commercial and industrial customers.

Building on its gas distribution platform, ENN Energy has expanded into integrated energy projects that combine multiple energy sources such as gas, electricity, thermal energy and renewable fuels.