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

Hitachi Ltd. (OTCMKTS:HTHIY) gapped up before the market opened on Wednesday . The stock had previously closed at $31.60, but opened at $32.84. Hitachi shares last traded at $31.98, with a volume of 197,386 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Hitachi from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. Erste Group Bank raised Hitachi to a “hold” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Hitachi Stock Performance

The stock has a fifty day moving average of $31.54 and a 200-day moving average of $29.35. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $144.10 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

Hitachi (OTCMKTS:HTHIY) last posted its quarterly earnings data on Thursday, October 30th. The conglomerate reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.21. Hitachi had a return on equity of 13.10% and a net margin of 7.98%.The company had revenue of $16.65 billion during the quarter, compared to analysts’ expectations of $2,463.27 billion. On average, equities analysts forecast that Hitachi Ltd. will post 0.47 EPS for the current year.

Hitachi Company Profile

Hitachi, Ltd. provides digital system and services, green energy and mobility, and connective industry solutions in Japan and internationally. It operates through seven segments: Digital Systems & Services, Green Energy & Mobility, Connective Industries, Automotive System, Hitachi Construction Machinery, Hitachi Metals, and Others.