Obic (OTCMKTS:OBIIF) Shares Gap Down – Here’s Why

Shares of Obic Co (OTCMKTS:OBIIF) gapped down prior to trading on Thursday. The stock had previously closed at $31.95, but opened at $29.8930. Obic shares last traded at $29.8930, with a volume of 213 shares traded.

Analyst Upgrades and Downgrades

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

Obic Price Performance

The stock has a market capitalization of $14.24 billion, a P/E ratio of 28.14 and a beta of 0.68. The company has a 50 day simple moving average of $28.89 and a 200-day simple moving average of $25.85.

Obic (OTCMKTS:OBIIF) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.33 EPS for the quarter, beating 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 firm had revenue of $225.66 million for the quarter, compared to analysts’ expectations 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.