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

Key Points

• ENN Energy Holdings Ltd. (OTCMKTS:XNGSY) experienced a significant gap down in its stock price, opening at $33.37 compared to a previous close of $35.24.
• Zacks Research has downgraded ENN Energy from a "hold" rating to a "strong sell" rating, contributing to its current average rating of "sell".
• The company's stock is trading below its 50-day moving average of $32.87 and 200-day moving average of $32.38, indicating weak market performance.

ENN Energy Holdings Ltd. (OTCMKTS:XNGSY - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $35.24, but opened at $33.37. ENN Energy shares last traded at $34.62, with a volume of 55 shares traded.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of ENN Energy from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, ENN Energy presently has an average rating of "Sell".

ENN Energy Price Performance

The business has a 50-day moving average price of $32.87 and a 200 day moving average price of $32.38.

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.

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