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

Hitachi Ltd. (OTCMKTS:HTHIY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $31.47, but opened at $29.70. Hitachi shares last traded at $30.46, with a volume of 67,794 shares.

Analyst Upgrades and Downgrades

Separately, Nomura raised 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Hitachi Price Performance

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’s fifty day moving average price is $32.75 and its 200 day moving average price is $31.36. The firm has a market capitalization of $140.62 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86.

Hitachi (OTCMKTS:HTHIY) last released its quarterly earnings data on Thursday, January 29th. The conglomerate reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $17.68 billion for the quarter, compared to analyst estimates of $16.85 billion. Hitachi had a net margin of 8.05% and a return on equity of 13.27%. Equities research analysts expect 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.