Galp Energia, SGPS (OTCMKTS:GLPEY) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Shares of Galp Energia, SGPS, S.A. (OTCMKTS:GLPEY) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.49 and traded as low as $8.19. Galp Energia, SGPS shares last traded at $8.22, with a volume of 54,164 shares trading hands.

Wall Street Analyst Weigh In

GLPEY has been the topic of several analyst reports. The Goldman Sachs Group raised Galp Energia, SGPS from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Berenberg Bank raised shares of Galp Energia, SGPS to a “strong-buy” rating in a research note on Friday, November 22nd.

Galp Energia, SGPS Stock Down 1.9 %

The business’s fifty day simple moving average is $8.49 and its two-hundred day simple moving average is $9.00. The company has a market cap of $11.43 billion, a PE ratio of 8.91 and a beta of 0.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.64 and a quick ratio of 1.40.

Galp Energia, SGPS Company Profile

Galp Energia, SGPS, SA operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, Namibia, and Angola.