SoftBank Group (OTCMKTS:SFTBY) Stock Price Down 7.7% – Here’s What Happened

Shares of SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) fell 7.7% during mid-day trading on Friday. The stock traded as low as $10.85 and last traded at $10.88. 1,181,555 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,480,270 shares. The stock had previously closed at $11.79.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised SoftBank Group from an “underperform” rating to a “hold” rating in a research note on Wednesday, October 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

SoftBank Group Stock Performance

The firm’s 50 day moving average is $17.11 and its two-hundred day moving average is $16.69. The stock has a market capitalization of $122.23 billion, a PE ratio of 14.66 and a beta of 2.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.68.

SoftBank Group (OTCMKTS:SFTBY) last issued its quarterly earnings results on Tuesday, November 10th. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.55). The business had revenue of $13.96 billion during the quarter, compared to analysts’ expectations of $12.68 billion. SoftBank Group had a net margin of 16.02% and a return on equity of 6.64%. As a group, research analysts predict that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current year.

SoftBank Group Company Profile

SoftBank Group is a Japan-based holding company focused on technology businesses and investments. Founded in 1981 by Masayoshi Son, it began as a software distributor and expanded into telecommunications and a broad portfolio of technology-related businesses. The group’s activities include operating and investing in companies involved in mobile and broadband communications, internet services, artificial intelligence, semiconductors, and other technology fields. Its portfolio includes Arm, a semiconductor and software-design company, and it invests in businesses through vehicles such as the SoftBank Vision Funds.