Obic (OTCMKTS:OBIIF) Shares Down 5% – Here’s What Happened

Shares of Obic Co (OTCMKTS:OBIIF) dropped 5% on Wednesday . The company traded as low as $30.45 and last traded at $30.8920. Approximately 114 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 53,422 shares. The stock had previously closed at $32.51.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Obic to a “hold” rating in a report on Monday, June 15th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Obic has an average rating of “Hold”.

Obic Stock Up 0.3%

The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 28.11 and a beta of 0.68. The stock has a 50 day simple moving average of $27.60 and a 200 day simple moving average of $25.56.

Obic (OTCMKTS:OBIIF) last issued its earnings results on Wednesday, July 22nd. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Obic had a return on equity of 15.65% and a net margin of 56.13%.The company had revenue of $225.66 million for the quarter, compared to analyst estimates of $220.63 million.

About Obic

Obic Co, Ltd. is a Japanese information technology company that develops and provides enterprise software and related services. Its principal offering is the OBIC7 suite, an enterprise resource planning platform designed to help organizations manage accounting, finance, human resources, payroll and other core business functions.

In addition to software products, Obic provides implementation consulting, system integration, maintenance and customer support. The company also offers cloud-based services and business solutions intended to help companies centralize data, streamline administrative processes and improve operational efficiency.

Founded in Japan in 1968, Obic primarily serves businesses and other organizations in the Japanese market through its domestic operations and support network.