Tenaga Nasional Berhad (OTCMKTS:TNABY) Shares Gap Down – Here’s What Happened

Tenaga Nasional Berhad (OTCMKTS:TNABY)’s stock price gapped down prior to trading on Friday. The stock had previously closed at $13.1532, but opened at $12.3148. Tenaga Nasional Berhad shares last traded at $12.3148, with a volume of 560 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Tenaga Nasional Berhad from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Tenaga Nasional Berhad Trading Down 6.4%

The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 53.54 and a beta of -0.40. The company has a 50 day moving average of $13.65 and a 200 day moving average of $14.29.

Tenaga Nasional Berhad Company Profile

Tenaga Nasional Berhad (TNB) is Malaysia’s largest electricity utility and a major integrated power company. Through its operations in generation, transmission, distribution and retail, TNB supplies electricity to customers throughout Peninsular Malaysia and also serves Sabah through its subsidiary Sabah Electricity.

The company operates a diversified portfolio of power-generation assets, including facilities powered by natural gas, coal, hydroelectricity and renewable energy. TNB also manages Malaysia’s high-voltage transmission network and electricity-distribution infrastructure, providing related engineering, construction, maintenance and utility services.

Established in 1990 as the successor to Malaysia’s National Electricity Board, TNB has expanded beyond its domestic utility operations through investments and projects in selected international markets.