SoftBank Group (OTCMKTS:SFTBY) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $63.09 and traded as low as $56.25. SoftBank Group shares last traded at $56.70, with a volume of 287,887 shares traded.

Wall Street Analyst Weigh In

Separately, New Street Research downgraded shares of SoftBank Group from a “buy” rating to a “neutral” rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

SoftBank Group Trading Down 0.4%

The company has a fifty day moving average of $63.09 and a two-hundred day moving average of $55.08. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $161.93 billion, a price-to-earnings ratio of 7.79 and a beta of 1.47.

SoftBank Group (OTCMKTS:SFTBY) last announced its quarterly earnings data on Tuesday, November 11th. The technology company reported $5.93 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $5.38. SoftBank Group had a net margin of 41.42% and a return on equity of 20.96%. The company had revenue of $12.44 billion during the quarter, compared to the consensus estimate of $12.61 billion. On average, research analysts expect that SoftBank Group Corp. Unsponsored ADR will post 2.22 EPS for the current year.

About SoftBank Group

SoftBank Group Corp is a Tokyo?based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high?growth technology companies around the globe.