SoftBank Group (OTCMKTS:SFTBY) Stock Price Down 6.9% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares dropped 6.9% during trading on Tuesday . The stock traded as low as $21.0775 and last traded at $21.08. Approximately 924,238 shares changed hands during trading, a decline of 62% from the average daily volume of 2,432,320 shares. The stock had previously closed at $22.65.

Analyst Ratings Changes

SFTBY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of SoftBank Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded SoftBank Group to a “hold” rating in a research report on Tuesday, March 10th. Jefferies Financial Group cut SoftBank Group from a “hold” rating to an “underperform” rating in a research report on Thursday, March 12th. Cantor Fitzgerald started coverage on SoftBank Group in a research report on Monday, March 9th. They issued an “overweight” rating on the stock. Finally, Sanford C. Bernstein started coverage on SoftBank Group in a research report on Monday, May 18th. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

SoftBank Group Stock Up 9.6%

The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.81. The stock has a market capitalization of $245.95 billion, a P/E ratio of 7.43 and a beta of 1.79. The firm has a 50-day simple moving average of $18.03 and a 200 day simple moving average of $14.99.

SoftBank Group (OTCMKTS:SFTBY) last posted its earnings results on Wednesday, May 13th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.16 by $0.86. SoftBank Group had a return on equity of 30.38% and a net margin of 64.12%.The firm had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $12.54 billion. On average, equities research analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 0.02 EPS for the current year.

SoftBank Group Company Profile

SoftBank Group Corp is a Tokyo‐based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high‐growth technology companies around the globe.