Tenaga Nasional Berhad (OTCMKTS:TNABY) Shares Gap Down – Here’s What Happened

Shares of Tenaga Nasional Berhad (OTCMKTS:TNABY) gapped down before the market opened on Friday. The stock had previously closed at $13.1532, but opened at $12.3148. Tenaga Nasional Berhad shares last traded at $12.3148, with a volume of 560 shares.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Tenaga Nasional Berhad from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating. According to MarketBeat, Tenaga Nasional Berhad has an average rating of “Strong Buy”.

Tenaga Nasional Berhad Stock Performance

The stock has a fifty day simple moving average of $13.65 and a 200-day simple moving average of $14.29. The stock has a market cap of $17.82 billion, a P/E ratio of 53.54 and a beta of -0.40.

About Tenaga Nasional Berhad

Tenaga Nasional Berhad (TNB) is Malaysia’s largest electricity utility and a major integrated power company. Through its operations in generation, transmission, distribution and retail, TNB supplies electricity to customers throughout Peninsular Malaysia and also serves Sabah through its subsidiary Sabah Electricity.

The company operates a diversified portfolio of power-generation assets, including facilities powered by natural gas, coal, hydroelectricity and renewable energy. TNB also manages Malaysia’s high-voltage transmission network and electricity-distribution infrastructure, providing related engineering, construction, maintenance and utility services.

Established in 1990 as the successor to Malaysia’s National Electricity Board, TNB has expanded beyond its domestic utility operations through investments and projects in selected international markets.