Renault (OTCMKTS:RNLSY) Sees Large Volume Increase – Time to Buy?

Shares of Renault (OTCMKTS:RNLSY) saw unusually-high trading volume on Wednesday . Approximately 58,202 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 40,833 shares.The stock last traded at $7.6150 and had previously closed at $7.38.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Berenberg Bank cut shares of Renault from a “strong-buy” rating to a “hold” rating in a research note on Monday. HSBC restated a “buy” rating on shares of Renault in a research report on Tuesday, January 13th. Zacks Research raised Renault from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. UBS Group downgraded shares of Renault from a “hold” rating to a “sell” rating in a research report on Tuesday, December 2nd. Finally, The Goldman Sachs Group began coverage on shares of Renault in a report on Sunday, November 23rd. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Renault presently has an average rating of “Hold”.

Renault Stock Up 5.1%

The firm’s 50 day moving average is $8.14 and its 200-day moving average is $8.04.

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.