Ørsted A/S (OTCMKTS:DNNGY) Shares Gap Up – Should You Buy?

Ørsted A/S (OTCMKTS:DNNGY)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $6.6699, but opened at $7.66. Ørsted A/S shares last traded at $7.21, with a volume of 2,988 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on DNNGY shares. The Goldman Sachs Group lowered shares of Ørsted A/S from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Royal Bank Of Canada upgraded shares of Ørsted A/S to a “moderate buy” rating in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Ørsted A/S Stock Performance

The firm has a 50 day moving average price of $6.74 and a two-hundred day moving average price of $7.53.

About Ørsted A/S

Ørsted A/S is a Danish renewable energy company focused primarily on developing, constructing, owning and operating offshore wind farms. Its activities also include onshore wind, solar power, energy storage and other renewable energy projects, as well as related operations and maintenance services.

The company was established in 1972 as Dansk Naturgas, later known as DONG Energy, and initially operated across oil, natural gas and conventional energy markets. Following a strategic transition away from fossil fuels, the company adopted the name Ørsted in 2017 to reflect its focus on renewable energy.