EDP – Energias de Portugal (OTCMKTS:ELCPF) Trading Down 6.8% – Here’s What Happened

EDP – Energias de Portugal, S.A. (OTCMKTS:ELCPF)’s stock price traded down 6.8% during trading on Wednesday . The stock traded as low as $4.8775 and last traded at $4.8775. Approximately 4,541 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 30,495 shares. The stock had previously closed at $5.2325.

Wall Street Analysts Forecast Growth

ELCPF has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of EDP – Energias de Portugal to a “neutral” rating in a research report on Thursday, June 11th. Citigroup started coverage on shares of EDP – Energias de Portugal in a research report on Thursday, May 28th. They issued a “buy” rating for the company. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, EDP – Energias de Portugal has an average rating of “Moderate Buy”.

EDP – Energias de Portugal Price Performance

The stock has a 50-day moving average of $5.01 and a 200-day moving average of $4.91.

EDP – Energias de Portugal Company Profile

EDP – Energias de Portugal (OTCMKTS: ELCPF) is a leading European energy company headquartered in Lisbon, Portugal. The firm is engaged in the generation, distribution and supply of electricity and natural gas, operating both conventional power plants and an extensive portfolio of renewable assets. Through its renewables arm, EDP Renováveis, the company develops, constructs and manages wind, solar and hydroelectric projects across multiple continents.

Founded in 1976 following the consolidation of several state-owned utilities, EDP underwent a phased privatization beginning in 1997 and has since expanded its footprint beyond the Iberian Peninsula.