APA Group (OTCMKTS:APAJF) Shares Down 5.3% – Here’s Why

Shares of APA Group (OTCMKTS:APAJF) fell 5.3% during mid-day trading on Tuesday . The stock traded as low as $5.46 and last traded at $5.46. 2,355 shares changed hands during trading, an increase of 146% from the average session volume of 959 shares. The stock had previously closed at $5.7650.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group set a $9.00 target price on APA Group and gave the company a “neutral” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

APA Group Stock Performance

The stock’s 50 day moving average price is $5.94 and its two-hundred day moving average price is $5.65.

About APA Group

APA Group is one of Australia’s leading energy infrastructure companies, primarily engaged in the ownership, operation and development of natural gas transmission pipelines and related assets. The company’s network extends over 15,000 kilometres, connecting major gas basins to industrial, commercial and residential users across eastern and western Australia, the Northern Territory and into New Zealand. Beyond gas transportation, APA Group also provides gas storage services and operates a growing portfolio of electricity transmission assets and telecommunications infrastructure co-located with its pipeline corridors.

Founded in 2000 as the APA Gas Pipeline Trust and rebranded as APA Group in 2004, the company has expanded through strategic acquisitions and greenfield developments.