EDP – Energias de Portugal (OTCMKTS:ELCPF) Stock Price Down 1.3% – Time to Sell?

EDP – Energias de Portugal, S.A. (OTCMKTS:ELCPF)’s share price traded down 1.3% during trading on Monday . The stock traded as low as $4.86 and last traded at $5.03. 3,898 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 31,520 shares. The stock had previously closed at $5.0950.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup assumed coverage on EDP – Energias de Portugal in a research note on Thursday, May 28th. They issued a “buy” rating for the company. The Goldman Sachs Group upgraded EDP – Energias de Portugal to a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

EDP – Energias de Portugal Price Performance

The company has a 50 day moving average of $5.07 and a 200 day moving average of $4.84.

EDP – Energias de Portugal Company Profile

EDP – Energias de Portugal (OTCMKTS: ELCPF) is a leading European energy company headquartered in Lisbon, Portugal. The firm is engaged in the generation, distribution and supply of electricity and natural gas, operating both conventional power plants and an extensive portfolio of renewable assets. Through its renewables arm, EDP Renováveis, the company develops, constructs and manages wind, solar and hydroelectric projects across multiple continents.

Founded in 1976 following the consolidation of several state-owned utilities, EDP underwent a phased privatization beginning in 1997 and has since expanded its footprint beyond the Iberian Peninsula.