SoftBank Group (OTCMKTS:SFTBY) Stock Price Up 6% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares shot up 6% during trading on Wednesday . The company traded as high as $53.18 and last traded at $53.0425. 200,889 shares were traded during mid-day trading, a decline of 73% from the average session volume of 731,900 shares. The stock had previously closed at $50.04.

Analysts Set New Price Targets

Separately, New Street Research cut SoftBank Group from a “buy” rating to a “neutral” rating in a research note on Thursday, September 25th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

SoftBank Group Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a 50 day moving average price of $70.31 and a 200-day moving average price of $49.95. The company has a market cap of $152.79 billion, a P/E ratio of 7.35 and a beta of 1.37.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Tuesday, November 11th. The technology company reported $5.93 EPS for the quarter, topping the consensus estimate of $0.55 by $5.38. SoftBank Group had a return on equity of 22.08% and a net margin of 41.42%.The firm had revenue of $12.44 billion during the quarter, compared to analysts’ expectations of $12.61 billion. On average, research analysts predict that SoftBank Group Corp. Unsponsored ADR will post 2.22 EPS for the current year.

SoftBank Group Company Profile

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.