ABB (OTCMKTS:ABBNY) Sees Strong Trading Volume – Here’s What Happened

ABB Ltd (OTCMKTS:ABBNY) shares saw an uptick in trading volume on Tuesday . 268,817 shares traded hands during trading, a decline of 23% from the previous session’s volume of 351,349 shares.The stock last traded at $105.3301 and had previously closed at $101.61.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research cut ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Kepler Capital Markets cut ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen downgraded ABB from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a report on Wednesday, May 6th. Finally, Berenberg Bank upgraded shares of ABB to a “hold” rating in a research report on Monday, June 1st. Eleven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ABB has a consensus rating of “Reduce” and an average price target of $58.00.

ABB Stock Performance

The firm has a market capitalization of $189.84 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 1.62 and a beta of 1.36. The company has a 50-day moving average of $105.30 and a 200-day moving average of $92.09. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.