Renault (OTCMKTS:RNLSY) Shares Gap Down Following Analyst Downgrade

Renault (OTCMKTS:RNLSY)’s share price gapped down prior to trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $7.67, but opened at $7.3952. Renault shares last traded at $7.4135, with a volume of 8,489 shares.

Several other brokerages have also recently commented on RNLSY. Morgan Stanley cut shares of Renault to an “underweight” rating in a research report on Tuesday, February 3rd. Berenberg Bank cut shares of Renault from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, HSBC reiterated a “buy” rating on shares of Renault in a research report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Renault Stock Performance

The company has a fifty day simple moving average of $7.04 and a 200-day simple moving average of $7.65.

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.