Sharp (OTCMKTS:SHCAY) Trading Up 3.9% – Here’s Why

Sharp Corp. (OTCMKTS:SHCAY) shot up 3.9% on Wednesday . The company traded as high as $1.21 and last traded at $1.21. 10,672 shares were traded during mid-day trading, an increase of 78% from the average session volume of 6,012 shares. The stock had previously closed at $1.1650.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Sharp to a “hold” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Sharp Price Performance

The company’s 50-day simple moving average is $1.25 and its 200 day simple moving average is $1.27. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 8.06 and a beta of 0.52.

Sharp (OTCMKTS:SHCAY) last released its quarterly earnings results on Monday, November 10th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.29 billion. Sharp had a return on equity of 19.42% and a net margin of 2.95%. Equities research analysts forecast that Sharp Corp. will post 0.01 EPS for the current year.

About Sharp

Sharp Corporation, founded in 1912 by Tokuji Hayakawa and headquartered in Sakai, Osaka, is a Japanese multinational electronics manufacturer. Over its century-long history, Sharp has been recognized for pioneering products such as the Ever-Sharp mechanical pencil and for its sustained innovation in display technologies.

The company’s core offerings span consumer electronics and professional solutions, including LCD televisions, large-scale displays, mobile device components, multifunction printers, and energy products such as solar panels and energy storage systems.