Sharp (OTCMKTS:SHCAY) Shares Gap Up – Here’s Why

Sharp Corp. (OTCMKTS:SHCAY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $1.11, but opened at $1.1680. Sharp shares last traded at $1.17, with a volume of 695 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sharp to a “hold” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Sharp Stock Performance

The company has a market cap of $2.99 billion, a price-to-earnings ratio of 7.67 and a beta of 0.58. The firm has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.28. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.05.

Sharp (OTCMKTS:SHCAY) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.29 billion. Sharp had a return on equity of 19.42% and a net margin of 2.95%. On average, sell-side analysts predict that Sharp Corp. will post 0.01 earnings per share for the current fiscal year.

Sharp Company Profile

Sharp Corporation, founded in 1912 by Tokuji Hayakawa and headquartered in Sakai, Osaka, is a Japanese multinational electronics manufacturer. Over its century-long history, Sharp has been recognized for pioneering products such as the Ever-Sharp mechanical pencil and for its sustained innovation in display technologies.

The company’s core offerings span consumer electronics and professional solutions, including LCD televisions, large-scale displays, mobile device components, multifunction printers, and energy products such as solar panels and energy storage systems.