Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Up – Time to Buy?

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $22.2504, but opened at $23.5985. Mitsubishi Heavy Industries shares last traded at $22.8649, with a volume of 16,015 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Mitsubishi Heavy Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Mitsubishi Heavy Industries Price Performance

The stock has a market capitalization of $79.65 billion, a P/E ratio of 36.32 and a beta of 0.46. The business has a fifty day simple moving average of $27.75 and a 200-day simple moving average of $28.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.27.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. The firm had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Mitsubishi Heavy Industries had a return on equity of 12.34% and a net margin of 5.89%.

Hedge Funds Weigh In On Mitsubishi Heavy Industries

An institutional investor recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. purchased a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company’s activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.