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

Hitachi Ltd. (OTCMKTS:HTHIY)’s stock price 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Hitachi Stock Performance

The stock’s 50 day simple moving average is $33.17 and its two-hundred day simple moving average is $30.78. 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 company has a market capitalization of $159.35 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.53 and a beta of 0.86.

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