BYD (OTCMKTS:BYDDF) Shares Gap Down – Here’s What Happened

BYD Company Limited (OTCMKTS:BYDDF) shares gapped down before the market opened on Monday. The stock had previously closed at $9.45, but opened at $9.00. BYD shares last traded at $9.2525, with a volume of 12,125 shares.

Key Headlines Impacting BYD

Here are the key news stories impacting BYD this week:

• Positive Sentiment: BYD ranked fifth in Spain’s October passenger-car market, suggesting growing sales visibility in Europe. Spain market report
• Positive Sentiment: The Denza D9 luxury MPV was spotted in Mumbai ahead of an expected India debut, pointing to further international expansion. Denza D9 India report
• Neutral Sentiment: BYD unveiled the ultra-luxury Yangwang Altior, reported to cost around $310,000 and offer features including tank turns and more than 600 miles of range. The launch may strengthen BYD’s premium-technology image, though the coverage does not establish likely sales or profitability. Yangwang Altior coverage
• Negative Sentiment: Reports say BYD offices were raided amid allegations that the Ti7 SUV copied design elements of the Land Rover Defender. The allegations are not a finding of wrongdoing, but potential litigation, costs, or reputational damage could weigh on sentiment. BYD offices raid report
• Negative Sentiment: Ford is touting an EV platform it says is 30% more efficient, adding competitive pressure in a key market. Separately, the supplied trading background says BYD’s latest reported EPS and revenue fell short of analyst expectations, a possible drag on investor confidence. Ford platform report

Analyst Upgrades and Downgrades

Separately, UBS Group set a $20.00 target price on shares of BYD in a report on Friday, September 11th.

BYD Stock Down 2.7%

The firm has a fifty day moving average of $9.79 and a 200-day moving average of $11.51. The stock has a market capitalization of $80.57 billion, a price-to-earnings ratio of 20.50 and a beta of 0.01.

BYD (OTCMKTS:BYDDF) last posted its earnings results on Thursday, October 29th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $32.99 billion during the quarter, compared to the consensus estimate of $34.35 billion.

About BYD

BYD Company Limited is a China-based manufacturer of automobiles, batteries and electronic products. Founded in 1995 as a rechargeable-battery company, it expanded into vehicle production and is headquartered in Shenzhen, China.

The company produces battery-electric and plug-in hybrid passenger vehicles, as well as commercial vehicles such as buses and trucks. Its other businesses include rechargeable batteries and energy-storage products, along with electronics manufacturing services.

BYD serves customers in China and international markets, with vehicle sales and operations extending across regions including Europe, Asia and Latin America.