Ørsted A/S (OTCMKTS:DNNGY) Sees Strong Trading Volume – Still a Buy?

Ørsted A/S (OTCMKTS:DNNGY) saw unusually-strong trading volume on Thursday. 338,176 shares changed hands during trading, an increase of 142% from the previous session’s volume of 139,726 shares. The stock last traded at $6.2258 and had previously closed at $6.21.

Wall Street Analysts Forecast Growth

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

Ørsted A/S Stock Performance

The stock has a fifty day simple moving average of $6.94 and a 200-day simple moving average of $7.65.

Ørsted A/S Company Profile

Ørsted A/S is a Denmark-based renewable energy company focused primarily on developing, constructing, owning and operating offshore wind farms. The company also develops onshore wind and solar projects, battery storage facilities and other renewable energy infrastructure. Its activities include project development, engineering, construction, operations and maintenance, and the sale of renewable power.

The company was formerly known as DONG Energy and historically operated across oil, natural gas and conventional energy activities.