Fuji Electric (OTCMKTS:FELTY) Shares Gap Down – Here’s What Happened

Shares of Fuji Electric Co., Ltd. – Unsponsored ADR (OTCMKTS:FELTY) gapped down prior to trading on Wednesday . The stock had previously closed at $20.25, but opened at $19.24. Fuji Electric shares last traded at $19.24, with a volume of 274 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered shares of Fuji Electric to a “sell” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Fuji Electric Stock Performance

The stock’s 50 day moving average is $18.58 and its 200 day moving average is $18.27.

Fuji Electric Company Profile

Fuji Electric Co, Ltd. (OTCMKTS: FELTY) is a Japanese engineering company specializing in the design, manufacture and sale of power electronics, industrial automation systems and energy infrastructure equipment. Established in 1923 as a joint undertaking between Furukawa Electric and General Electric, the company has evolved to become a global supplier of power semiconductors, inverters, switchgear, motors and generators. Its product lineup spans a range of applications, from high-voltage transmission and distribution systems to factory automation and renewable energy solutions.

The company operates through several business segments, including Energy & Environment, Industrial Infrastructure, Power Electronics and Electronic Devices.