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

Shares of Tenaga Nasional Berhad (OTCMKTS:TNABY) gapped down prior to trading on Monday . The stock had previously closed at $15.1296, but opened at $14.4032. Tenaga Nasional Berhad shares last traded at $14.4032, with a volume of 267 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research raised 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, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Tenaga Nasional Berhad Stock Performance

The business’s fifty day moving average is $14.70 and its two-hundred day moving average is $14.61. The company has a market cap of $20.84 billion, a P/E ratio of 51.44 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.