Italgas (OTCMKTS:ITGGF) Stock Price Down 2.6% – Time to Sell?

Italgas S.p.A. (OTCMKTS:ITGGF) shares traded down 2.6% during mid-day trading on Thursday . The company traded as low as $12.37 and last traded at $12.37. 400 shares were traded during trading, an increase of 72% from the average session volume of 233 shares. The stock had previously closed at $12.7020.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Italgas to a “hold” rating in a research note on Monday, January 19th. Citigroup downgraded shares of Italgas to a “neutral” rating in a research note on Friday, October 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Italgas in a report on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Italgas Price Performance

The firm’s 50 day simple moving average is $11.31 and its 200-day simple moving average is $10.20.

Italgas Company Profile

Italgas S.p.A. is one of Europe’s leading operators in the regulated natural gas distribution sector. Through its network of concessions, the company designs, constructs and manages pipelines, metering stations and related infrastructure to deliver safe, efficient gas supply to residential, commercial and industrial end users. Its core business activities include network maintenance, emergency response services, and meter installation and management, all under long-term regulated tariffs set by national authorities.

Established in Turin in 1837, Italgas is among the oldest gas distribution companies in Europe.