Porsche Automobil (OTCMKTS:POAHY) Shares Gap Up – Still a Buy?

Shares of Porsche Automobil Holding SE Unsponsored ADR (OTCMKTS:POAHY) gapped up prior to trading on Wednesday. The stock had previously closed at $2.69, but opened at $2.79. Porsche Automobil shares last traded at $2.77, with a volume of 20,004 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised shares of Porsche Automobil from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 11th. Kepler Capital Markets downgraded Porsche Automobil from a “hold” rating to a “reduce” rating in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Porsche Automobil Stock Performance

The stock has a 50 day simple moving average of $3.15 and a 200-day simple moving average of $3.37.

Porsche Automobil Company Profile

Porsche Automobil Holding SE, also known as Porsche SE, is a Germany-based holding company headquartered in Stuttgart. Unlike Porsche AG, the sports-car manufacturer, Porsche SE primarily manages and develops long-term investments rather than designing or selling vehicles directly.

The company’s principal investment is a controlling interest in Volkswagen AG, one of the world’s largest automotive groups. Through Volkswagen, Porsche SE has indirect exposure to brands and businesses that manufacture passenger cars, commercial vehicles, sports cars, and mobility-related products and services.