Hitachi Ltd. (OTCMKTS:HTHIY) Shares Shorted: Short Interest Up 291.7% in October

Hitachi Ltd. (OTCMKTS:HTHIY) saw a significant growth in short interest in October. As of October 30th, there was short interest totaling 1,622,734 shares, a growth of 291.7% from the October 15th total of 414,246 shares. Based on an average daily volume of 1,151,596 shares, the short-interest ratio is presently 1.4 days. Approximately 0.0% of the shares of the stock are sold short.

Hitachi Stock Down 0.8%

Hitachi stock traded down $0.25 during midday trading on Friday, hitting $30.80. 275,743 shares of the company were exchanged, compared to its average volume of 583,802. The company has a market cap of $139.70 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 1.08 and a beta of 1.03. Hitachi has a fifty-two week low of $27.22 and a fifty-two week high of $39.00. The company’s fifty day moving average price is $34.45 and its 200-day moving average price is $32.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.09 and a quick ratio of 0.83.

Hitachi (OTCMKTS:HTHIY) last posted its quarterly earnings data on Wednesday, October 28th. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $18.40 billion for the quarter, compared to analysts’ expectations of $18.51 billion. Hitachi had a net margin of 6.53% and a return on equity of 10.94%. On average, research analysts predict that Hitachi will post 1.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HTHIY shares. Zacks Research cut shares of Hitachi from a “strong-buy” rating to a “hold” rating in a research note on Monday. Sanford C. Bernstein initiated coverage on Hitachi in a research note on Tuesday, September 15th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Hitachi Company Profile

Hitachi Ltd. is a Japanese technology and industrial company that develops products, systems and services for businesses, governments and consumers. Its activities span digital services and information technology, energy systems, transportation, industrial equipment and building systems. The company supplies software, IT and systems-integration services, power-grid and energy technologies, rail vehicles and signaling systems, and industrial machinery and automation solutions. Its portfolio also includes products and services for buildings, such as elevators and escalators.