Renault (OTCMKTS:RNLSY) Shares Gap Down – Time to Sell?

Renault (OTCMKTS:RNLSY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $8.30, but opened at $7.95. Renault shares last traded at $7.95, with a volume of 6,177 shares.

Analysts Set New Price Targets

RNLSY has been the subject of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Renault in a research report on Sunday, November 23rd. They set a “hold” rating for the company. UBS Group lowered shares of Renault from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. Finally, Zacks Research raised shares of Renault from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Renault Stock Down 0.7%

The company has a 50 day simple moving average of $8.15 and a 200-day simple moving average of $8.17.

Renault Company Profile

Renault SA is a French multinational automobile manufacturer founded in 1899 by Louis, Marcel and Fernand Renault. Headquartered in Boulogne-Billancourt, France, the company designs, produces and distributes a wide range of passenger cars, light commercial vehicles and electric vehicles under the Renault, Dacia and Alpine brands. Renault also develops powertrains, including combustion engines and electric motors, and provides related services such as financing, leasing and fleet management.

Throughout its history, Renault has been at the forefront of automotive innovation, introducing mass-produced vehicles in the early 20th century and pioneering mass-market electric cars in the 2010s.