Huaneng Power International Inc. (HNP) Shares Gap Down to $24.11
Huaneng Power International Inc. (NYSE:HNP)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $24.02, but opened at $24.11. Huaneng Power International shares last traded at $24.65, with a volume of 41,516 shares.
Several research firms recently commented on HNP. JPMorgan Chase & Co. lowered Huaneng Power International from an “overweight” rating to an “underweight” rating in a research report on Monday, April 11th. Citigroup Inc. downgraded Huaneng Power International from a “buy” rating to a “sell” rating in a report on Monday, April 18th. Zacks Investment Research downgraded Huaneng Power International from a “hold” rating to a “strong sell” rating in a report on Friday, April 29th. Macquarie downgraded Huaneng Power International from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 31st. Finally, Morgan Stanley downgraded Huaneng Power International from an “overweight” rating to an “equal weight” rating in a report on Monday, July 25th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.00.
The firm has a market cap of $9.36 billion and a P/E ratio of 5.55. The stock has a 50 day moving average of $24.52 and a 200-day moving average of $29.42.
An institutional investor recently raised its position in Huaneng Power International stock. First Trust Advisors LP boosted its stake in Huaneng Power International Inc. (NYSE:HNP) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,071 shares of the company’s stock after buying an additional 9,419 shares during the period. First Trust Advisors LP’s holdings in Huaneng Power International were worth $1,546,000 at the end of the most recent quarter.
Huaneng Power International, Inc (Huaneng Power) is an independent power producer. The Company and its subsidiaries are engaged in the generation and sale of electric power to the respective regional or provincial grid companies in the People’s Republic of China (PRC) and in the Republic of Singapore (Singapore).
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