Italgas (OTCMKTS:ITGGF) Shares Climb 0.7% – Time to Buy?

Italgas S.p.A. (OTCMKTS:ITGGF)’s stock price shot up 0.7% during mid-day trading on Tuesday. The stock traded as high as $9.3725 and last traded at $9.3725. 191 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,988 shares. The stock had previously closed at $9.31.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ITGGF shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Italgas in a research report on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating on shares of Italgas in a report on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Italgas Price Performance

The firm’s fifty day simple moving average is $9.89 and its 200 day simple moving average is $11.07.

Italgas Company Profile

Italgas S.p.A. is an Italian energy infrastructure company focused primarily on the distribution of natural gas. Through its operating subsidiaries, the company manages local gas distribution networks, connecting households, businesses and other customers to the gas supply system. Its activities include network operation and maintenance, metering, technical services and the development of digital solutions for distribution infrastructure.

Founded in Turin in 1837, Italgas is one of Europe’s oldest gas companies and has played a significant role in the development of Italy’s gas distribution system.