Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Down – Here’s What Happened

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) gapped down before the market opened on Wednesday . The stock had previously closed at $24.50, but opened at $23.60. Mitsubishi Heavy Industries shares last traded at $23.60, with a volume of 2,407 shares traded.

Mitsubishi Heavy Industries Trading Down 6.3%

The business’s fifty day simple moving average is $24.45 and its 200 day simple moving average is $27.80. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The stock has a market cap of $77.43 billion, a P/E ratio of 35.31 and a beta of 0.48.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last announced its earnings results on Tuesday, May 12th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Mitsubishi Heavy Industries had a net margin of 5.89% and a return on equity of 11.74%. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.43 billion.

Institutional Trading of Mitsubishi Heavy Industries

A hedge fund recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. acquired a new position in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,000 shares of the company’s stock, valued at approximately $28,000.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company’s activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.