Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) Shares Gap Up – Here’s Why

Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF)’s share price gapped up before the market opened on Monday. The stock had previously closed at $13.5150, but opened at $14.4180. Hon Hai Precision Industry Co., Ltd. Sponsored GDR shares last traded at $14.5350, with a volume of 8,935 shares trading hands.

Analyst Ratings Changes

Separately, Barclays reiterated an “overweight” rating and set a $23.00 price objective on shares of Hon Hai Precision Industry Co., Ltd. Sponsored GDR in a research report on Thursday, August 20th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Hon Hai Precision Industry Co., Ltd. Sponsored GDR has a consensus rating of “Buy” and an average price target of $23.00.

Hon Hai Precision Industry Co., Ltd. Sponsored GDR Stock Performance

The company has a 50 day simple moving average of $15.47 and a two-hundred day simple moving average of $15.11.

Hon Hai Precision Industry Co., Ltd. Sponsored GDR Company Profile

Hon Hai Precision Industry Co., Ltd., widely known as Foxconn, is a Taiwan-based electronics manufacturer and technology services provider. Founded in 1974 by Terry Gou, the company produces and assembles electronic products and components for other companies. Its activities include manufacturing smartphones, computers, consumer electronics, and communications and cloud-networking equipment. Hon Hai also provides product design, engineering, supply-chain management, and related manufacturing services, and has expanded into areas such as electric vehicles and automotive components.