SoftBank Group (OTCMKTS:SFTBY) Trading Down 6.9% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) traded down 6.9% during trading on Tuesday . The company traded as low as $21.0775 and last traded at $21.08. 924,238 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 2,432,320 shares. The stock had previously closed at $22.65.

Analyst Ratings Changes

SFTBY has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut shares of SoftBank Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Sanford C. Bernstein began coverage on shares of SoftBank Group in a research note on Monday, May 18th. They set an “outperform” rating for the company. Jefferies Financial Group downgraded SoftBank Group from a “hold” rating to an “underperform” rating in a research report on Thursday, March 12th. Zacks Research upgraded SoftBank Group to a “hold” rating in a report on Tuesday, March 10th. Finally, Cantor Fitzgerald started coverage on SoftBank Group in a research report on Monday, March 9th. They set an “overweight” rating for the company. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

SoftBank Group Price Performance

The stock has a market capitalization of $233.96 billion, a P/E ratio of 7.07 and a beta of 1.79. The company has a 50 day moving average of $17.67 and a 200-day moving average of $14.92. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.96.

SoftBank Group (OTCMKTS:SFTBY) last released its earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.86. SoftBank Group had a net margin of 64.12% and a return on equity of 30.38%. The firm had revenue of $13.17 billion during the quarter, compared to analyst estimates of $12.54 billion. Sell-side analysts predict that SoftBank Group Corp. Unsponsored ADR will post 0.02 EPS for the current year.

About SoftBank Group

SoftBank Group Corp is a Tokyo‐based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high‐growth technology companies around the globe.