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

Hitachi Ltd. (OTCMKTS:HTHIY) gapped down prior to trading on Monday . The stock had previously closed at $33.37, but opened at $31.01. Hitachi shares last traded at $31.6250, with a volume of 32,812 shares.

Wall Street Analyst Weigh In

Separately, Nomura upgraded shares of Hitachi to a “strong-buy” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Hitachi Trading Down 4.6%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 1.08. The company has a market capitalization of $145.88 billion, a P/E ratio of 21.52, a PEG ratio of 1.42 and a beta of 0.86. The company’s fifty day simple moving average is $33.36 and its 200-day simple moving average is $31.04.

Hitachi (OTCMKTS:HTHIY) last posted its earnings results on Thursday, January 29th. The conglomerate reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $17.68 billion during the quarter, compared to analyst estimates of $16.85 billion. Hitachi had a return on equity of 13.27% and a net margin of 8.05%. Research analysts predict 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.