Volkswagen (OTCMKTS:VWAGY) Shares Gap Down – Here’s Why

Volkswagen AG Unsponsored ADR (OTCMKTS:VWAGY) gapped down before the market opened on Friday . The stock had previously closed at $9.45, but opened at $8.99. Volkswagen shares last traded at $8.9335, with a volume of 26,886 shares.

Analysts Set New Price Targets

VWAGY has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Volkswagen in a research note on Monday, July 27th. Zacks Research cut shares of Volkswagen from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Citigroup reissued a “buy” rating on shares of Volkswagen in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Volkswagen Stock Performance

The company has a market capitalization of $43.91 billion, a PE ratio of 7.18, a P/E/G ratio of 0.39 and a beta of 1.07. The company’s 50-day simple moving average is $8.80 and its 200-day simple moving average is $9.70.

Volkswagen (OTCMKTS:VWAGY) last announced its earnings results on Friday, July 24th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.27). The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $92.92 billion. Volkswagen had a return on equity of 2.70% and a net margin of 1.68%. Analysts expect that Volkswagen AG Unsponsored ADR will post 1.79 EPS for the current year.

Volkswagen Company Profile

Volkswagen AG is a German automotive company headquartered in Wolfsburg, Germany. Through its Volkswagen Group operations, the company develops, manufactures and sells passenger cars, commercial vehicles, trucks, buses, motorcycles and related mobility products. Its portfolio includes vehicles powered by internal combustion engines, hybrids and batteries, along with digital services and charging solutions.

The group’s major automotive brands include Volkswagen Passenger Cars, Audi, Škoda, SEAT, CUPRA, Porsche, Bentley, Lamborghini, Ducati and Volkswagen Commercial Vehicles.