Italgas (OTCMKTS:ITGGF) Trading Up 3% – What’s Next?

Italgas S.p.A. (OTCMKTS:ITGGF) traded up 3% during trading on Wednesday . The company traded as high as $9.88 and last traded at $9.88. 798 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,920 shares. The stock had previously closed at $9.59.

Wall Street Analyst Weigh In

Several research firms have weighed in on ITGGF. Royal Bank Of Canada restated an “outperform” rating on shares of Italgas in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Italgas in a research report on Wednesday, July 29th. Finally, Citigroup raised shares of Italgas from a “neutral” rating to a “buy” rating in a report on Tuesday, June 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Italgas presently has an average rating of “Moderate Buy”.

Italgas Stock Performance

The stock’s 50 day moving average is $10.57 and its 200-day moving average is $11.41.

About Italgas

Italgas S.p.A. is one of Europe’s leading operators in the regulated natural gas distribution sector. Through its network of concessions, the company designs, constructs and manages pipelines, metering stations and related infrastructure to deliver safe, efficient gas supply to residential, commercial and industrial end users. Its core business activities include network maintenance, emergency response services, and meter installation and management, all under long-term regulated tariffs set by national authorities.

Established in Turin in 1837, Italgas is among the oldest gas distribution companies in Europe.