Verbund (OTCMKTS:OEZVY) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of Verbund Ag (OTCMKTS:OEZVY) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $15.11 and traded as low as $14.99. Verbund shares last traded at $15.10, with a volume of 300 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Kepler Capital Markets raised shares of Verbund from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Royal Bank Of Canada assumed coverage on Verbund in a research report on Monday, December 8th. They issued a “strong sell” rating on the stock. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Verbund has an average rating of “Strong Sell”.

Verbund Stock Up 13.3%

The stock’s fifty day simple moving average is $15.12 and its 200 day simple moving average is $15.16.

About Verbund

Verbund AG is Austria’s leading electricity company and one of Europe’s largest producers of hydropower. The company’s core activities encompass the generation, transmission and distribution of electric power, with a focus on renewable energy sources. Verbund operates more than 130 hydropower plants along the Danube, Inn and Enns rivers, supplemented by pumped storage facilities and thermal generation assets. Through its integrated electricity grid, the company supplies power to domestic consumers and industrial clients while also participating in wholesale energy markets across Central Europe.

In addition to its extensive hydropower portfolio, Verbund has expanded into wind, solar and battery storage projects to support Europe’s transition to carbon-neutral energy.