Hitachi (OTCMKTS:HTHIY) Shares Gap Down – Here’s Why

Hitachi Ltd. (OTCMKTS:HTHIY) gapped down prior to trading on Thursday . The stock had previously closed at $37.73, but opened at $35.34. Hitachi shares last traded at $36.3240, with a volume of 60,698 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Hitachi from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Hitachi Price Performance

The company’s 50 day simple moving average is $33.02 and its two-hundred day simple moving average is $30.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $165.88 billion, a P/E ratio of 24.47, a PEG ratio of 1.58 and a beta of 0.86.

Hitachi (OTCMKTS:HTHIY) last announced its earnings results on Thursday, January 29th. The conglomerate reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $17.68 billion during the quarter, compared to analyst estimates of $16.85 billion. Hitachi had a return on equity of 13.27% and a net margin of 8.05%. As a group, equities analysts expect that Hitachi Ltd. will post 0.47 EPS for the current fiscal year.

Hitachi Company Profile

Hitachi, Ltd. (OTCMKTS:HTHIY) is a Tokyo-headquartered multinational conglomerate that operates a diversified portfolio of businesses spanning information technology, energy and power systems, industrial machinery, transportation systems, and digital solutions. Founded in 1910 by engineer Namihei Odaira in the city of Hitachi, Ibaraki Prefecture, the company grew from an electrical repair shop and early induction motor manufacturing into a global engineering and technology group. Hitachi positions itself as a “social innovation” company, combining operational technology, information technology and domain knowledge to address infrastructure and industry challenges.

The company’s activities include design and manufacture of heavy industrial equipment and construction machinery, delivery of rail and urban transportation systems, development and provision of power generation and grid equipment, and enterprise IT services including systems integration and cloud solutions.