Zacks Investment Research Lowers Cairn Energy Plc (CRNCY) to Sell

Cairn Energy Plc (NASDAQ:CRNCY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

According to Zacks, “Cairn Energy PLC is engaged in the discovery, exploration and development of oil and gas properties in South Asia. The Company has discovered and developed many major fields in India and Bangladesh. Cairn Energy PLC is headquartered in Edinburgh, the United Kingdom. “

Shares of Cairn Energy Plc (CRNCY) remained flat at $4.39 during midday trading on Monday. The company’s market cap is $1.26 billion. Cairn Energy Plc has a 12-month low of $4.29 and a 12-month high of $6.15. The firm’s 50 day moving average is $5.13 and its 200-day moving average is $5.42.

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