SoftBank Group (OTCMKTS:SFTBY) Stock Falls 7.7% – Here’s What Happened

Shares of SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) dropped 7.7% during mid-day trading on Friday. The company traded as low as $10.85 and last traded at $10.88. Approximately 1,181,555 shares were traded during mid-day trading, a decline of 66% from the average session volume of 3,480,270 shares. The stock had previously closed at $11.79.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upgraded SoftBank Group from an “underperform” rating to a “hold” rating in a research note on Wednesday, October 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, SoftBank Group presently has a consensus rating of “Moderate Buy”.

SoftBank Group Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 0.68 and a quick ratio of 0.67. The company has a market capitalization of $122.23 billion, a price-to-earnings ratio of 14.66 and a beta of 2.07. The stock has a 50 day simple moving average of $17.11 and a two-hundred day simple moving average of $16.69.

SoftBank Group (OTCMKTS:SFTBY) last announced its quarterly earnings results on Tuesday, November 10th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The business had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $12.68 billion. SoftBank Group had a return on equity of 6.64% and a net margin of 16.02%. As a group, analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current year.

About SoftBank Group

SoftBank Group is a Japan-based holding company focused on technology businesses and investments. Founded in 1981 by Masayoshi Son, it began as a software distributor and expanded into telecommunications and a broad portfolio of technology-related businesses. The group’s activities include operating and investing in companies involved in mobile and broadband communications, internet services, artificial intelligence, semiconductors, and other technology fields. Its portfolio includes Arm, a semiconductor and software-design company, and it invests in businesses through vehicles such as the SoftBank Vision Funds.