Ørsted A/S (OTCMKTS:DNNGY) Trading 1.1% Higher – Time to Buy?

Ørsted A/S (OTCMKTS:DNNGY) shares shot up 1.1% on Tuesday . The company traded as high as $7.4670 and last traded at $7.46. 84,549 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 153,683 shares. The stock had previously closed at $7.38.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DNNGY. Morgan Stanley raised shares of Ørsted A/S from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 14th. The Goldman Sachs Group upgraded shares of Ørsted A/S from a “neutral” rating to a “buy” rating in a research note on Monday, April 27th. Finally, Zacks Research upgraded Ørsted A/S to a “hold” rating in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ørsted A/S has an average rating of “Moderate Buy”.

Ørsted A/S Price Performance

The firm’s 50 day moving average price is $8.26 and its 200-day moving average price is $7.72.

Ørsted A/S Company Profile

Ørsted A/S (OTCMKTS:DNNGY) is a Denmark-based renewable energy company that specializes in the development, construction and operation of offshore wind farms. Formerly known as DONG Energy until its rebranding in 2017 to honor Danish scientist Hans Christian Ørsted, the company has grown into a global leader in offshore wind power and green energy solutions.

The company’s core activities include the full lifecycle management of offshore wind projects, encompassing site identification, engineering, turbine installation and long-term operations and maintenance.