Tenaga Nasional Berhad (OTCMKTS:TNABY) Shares Gap Down – What’s Next?

Shares of Tenaga Nasional Berhad (OTCMKTS:TNABY) gapped down before the market opened on Tuesday . The stock had previously closed at $14.64, but opened at $13.05. Tenaga Nasional Berhad shares last traded at $13.05, with a volume of 988 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Tenaga Nasional Berhad to a “hold” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Tenaga Nasional Berhad Price Performance

The company’s 50-day simple moving average is $14.80 and its 200-day simple moving average is $14.45. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 46.61 and a beta of -0.35.

About Tenaga Nasional Berhad

Tenaga Nasional Berhad (OTCMKTS: TNABY) is Malaysia’s largest integrated electricity utility, principally engaged in the generation, transmission, distribution and retail of electricity. The company operates a broad portfolio of power plants and manages the national grid infrastructure that delivers electricity to residential, commercial and industrial customers. Its operations encompass system planning, network operation and maintenance, meter services and customer supply functions typical of a vertically integrated utility.

TNB’s generation assets include thermal and hydroelectric facilities and the company has been expanding its participation in renewable energy and grid modernization initiatives.