ENN Energy (OTCMKTS:XNGSY) Shares Gap Down - Here's Why

Key Points

• ENN Energy Holdings Ltd. shares experienced a significant drop in pre-trading, opening at $32.44 from a previous close of $33.39.
• Zacks Research downgraded ENN Energy's rating from "hold" to "strong sell", reflecting a consensus rating of "sell" among analysts.
• The company, involved in gas pipeline infrastructure in China, has liquidity ratios indicating a quick ratio of 0.64 and a current ratio of 0.68.

Shares of ENN Energy Holdings Ltd. (OTCMKTS:XNGSY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $33.39, but opened at $32.44. ENN Energy shares last traded at $33.53, with a volume of 202 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut ENN Energy from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

ENN Energy Price Performance

The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $32.61 and a 200 day moving average of $31.75.

ENN Energy Company Profile

ENN Energy Holdings Limited, an investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People's Republic of China. It operates through Retail Gas Sales Business, Integrated Energy Business, Wholesale of Gas, Construction and Installation, and Value Added Business segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.