Hitachi (OTCMKTS:HTHIY) Shares Gap Down – Should You Sell?

Hitachi Ltd. (OTCMKTS:HTHIY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $32.19, but opened at $31.11. Hitachi shares last traded at $31.9950, with a volume of 68,519 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of Hitachi from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. Erste Group Bank upgraded shares of Hitachi to a “hold” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Hitachi has a consensus rating of “Hold”.

Hitachi Price Performance

The stock has a market capitalization of $146.98 billion, a PE ratio of 14.39, a PEG ratio of 1.32 and a beta of 0.85. The company’s 50 day simple moving average is $31.77 and its 200 day simple moving average is $29.46. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

Hitachi (OTCMKTS:HTHIY) last announced its quarterly earnings results on Thursday, October 30th. The conglomerate reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.21. Hitachi had a net margin of 7.98% and a return on equity of 13.10%. The company had revenue of $16.65 billion for the quarter, compared to analyst estimates of $2,463.27 billion. On average, equities analysts anticipate that Hitachi Ltd. will post 0.47 earnings per share for the current year.

About Hitachi

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.