SoftBank Group (OTCMKTS:SFTBY) Shares Down 10% – Here’s What Happened

Shares of SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) dropped 10% during mid-day trading on Friday . The company traded as low as $18.79 and last traded at $18.79. Approximately 711,813 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,640,128 shares. The stock had previously closed at $20.88.

Analyst Ratings Changes

SFTBY has been the subject of a number of analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Zacks Research raised shares of SoftBank Group to a “hold” rating in a research note on Tuesday, March 10th. Cantor Fitzgerald assumed coverage on shares of SoftBank Group in a report on Monday, March 9th. They issued an “overweight” rating on the stock. TD Cowen reissued a “hold” rating on shares of SoftBank Group in a research report on Thursday, May 14th. Finally, Jefferies Financial Group downgraded shares of SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SoftBank Group presently has an average rating of “Hold”.

SoftBank Group Stock Performance

The stock has a 50-day simple moving average of $20.21 and a 200-day simple moving average of $15.63. The stock has a market cap of $224.76 billion, a PE ratio of 6.79 and a beta of 1.79. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.80 and a quick ratio of 0.78.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.86. SoftBank Group had a return on equity of 28.68% and a net margin of 64.12%.The business had revenue of $13.17 billion during the quarter, compared to analysts’ expectations of $12.54 billion. Equities analysts predict that SoftBank Group Corp. Unsponsored ADR will post 0.02 earnings per share for the current fiscal year.

About SoftBank Group

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.