Renault (OTCMKTS:RNLSY) Shares Gap Down - Here's Why

Key Points

• Renault shares gapped down before trading Friday, opening at $6.65 after a $7.25 close and last trading at $6.6803 on a volume of 4,899 shares.
• Several analysts have recently downgraded Renault (Berenberg, Morgan Stanley, Zacks), leaving the consensus rating as "Reduce" (1 Buy, 3 Hold, 2 Sell).
• The stock's 50-day moving average is $6.93 and its 200-day moving average is $7.58, with the current price trading below both averages.

Shares of Renault (OTCMKTS:RNLSY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $7.25, but opened at $6.65. Renault shares last traded at $6.6803, with a volume of 4,899 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Berenberg Bank lowered Renault from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 19th. Morgan Stanley lowered Renault to an "underweight" rating in a research report on Tuesday, February 3rd. Zacks Research lowered Renault from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Finally, HSBC reiterated a "buy" rating on shares of Renault in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce".

Renault Price Performance

The stock has a 50 day moving average price of $6.93 and a 200 day moving average price of $7.58.

Renault Company Profile

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.

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