SoftBank Group (OTCMKTS:SFTBY) Shares Gap Down – Here’s Why

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $11.47, but opened at $11.05. SoftBank Group shares last traded at $11.63, with a volume of 2,523,074 shares changing hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upgraded shares of SoftBank Group from an “underperform” rating to a “hold” rating in a report on Wednesday, October 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

SoftBank Group Stock Down 4.1%

The company’s fifty day moving average price is $17.25 and its 200-day moving average price is $16.70. The stock has a market capitalization of $128.63 billion, a PE ratio of 4.14 and a beta of 2.07. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.89.

SoftBank Group (OTCMKTS:SFTBY) last announced its quarterly earnings data on Tuesday, November 10th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. The company had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $12.68 billion. Analysts forecast that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current year.

About SoftBank Group

SoftBank Group is a Japan-based holding company focused on technology businesses and investments. Founded in 1981 by Masayoshi Son, it began as a software distributor and expanded into telecommunications and a broad portfolio of technology-related businesses. The group’s activities include operating and investing in companies involved in mobile and broadband communications, internet services, artificial intelligence, semiconductors, and other technology fields. Its portfolio includes Arm, a semiconductor and software-design company, and it invests in businesses through vehicles such as the SoftBank Vision Funds.