Hitachi (OTCMKTS:HTHIY) Shares Gap Down – Here’s What Happened

Hitachi Ltd. (OTCMKTS:HTHIY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $31.90, but opened at $30.30. Hitachi shares last traded at $31.23, with a volume of 45,563 shares changing hands.

Analysts Set New Price Targets

Separately, Nomura raised shares of Hitachi to a “strong-buy” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Hitachi has a consensus rating of “Moderate Buy”.

Hitachi Trading Down 1.6%

The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $31.06 and its two-hundred day moving average price is $32.09. The company has a market capitalization of $142.39 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.91.

Hitachi (OTCMKTS:HTHIY) last released its quarterly earnings results on Monday, April 27th. The conglomerate reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. Hitachi had a return on equity of 12.68% and a net margin of 7.64%.The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.44 billion. Sell-side analysts anticipate that Hitachi Ltd. will post 1.33 earnings per share for the current year.

Hitachi Company Profile

Hitachi, Ltd. (OTCMKTS:HTHIY) is a Tokyo-headquartered multinational conglomerate that operates a diversified portfolio of businesses spanning information technology, energy and power systems, industrial machinery, transportation systems, and digital solutions. Founded in 1910 by engineer Namihei Odaira in the city of Hitachi, Ibaraki Prefecture, the company grew from an electrical repair shop and early induction motor manufacturing into a global engineering and technology group. Hitachi positions itself as a “social innovation” company, combining operational technology, information technology and domain knowledge to address infrastructure and industry challenges.

The company’s activities include design and manufacture of heavy industrial equipment and construction machinery, delivery of rail and urban transportation systems, development and provision of power generation and grid equipment, and enterprise IT services including systems integration and cloud solutions.