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

Tenaga Nasional Berhad (OTCMKTS:TNABY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $12.75, but opened at $13.99. Tenaga Nasional Berhad shares last traded at $13.99, with a volume of 680 shares changing hands.

Wall Street Analysts Forecast Growth

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

Tenaga Nasional Berhad Stock Performance

The stock has a market cap of $18.19 billion, a P/E ratio of 44.91 and a beta of -0.37. The firm has a 50-day moving average price of $14.33 and a 200-day moving average price of $14.52.

Tenaga Nasional Berhad Company Profile

Tenaga Nasional Berhad (OTCMKTS:TNABY) is Malaysia’s largest integrated electricity utility and a government-linked company. Through its subsidiaries and operating businesses, the company generates, transmits, distributes and retails electricity, primarily serving customers in Peninsular Malaysia, with additional activities connected to Sabah and Labuan.

The company operates a diversified power-generation portfolio that includes conventional and renewable energy assets. Its transmission and distribution networks deliver electricity to residential, commercial and industrial customers, while its retail and energy-services activities support customer solutions, energy efficiency and related utility needs.

Tenaga Nasional has also expanded beyond its domestic utility base through investments in renewable energy, power generation and engineering-related businesses in selected international markets.