Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) Shares Gap Down – Here’s Why

Shares of Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) gapped down before the market opened on Wednesday. The stock had previously closed at $17.4050, but opened at $15.97. Hon Hai Precision Industry Co., Ltd. Sponsored GDR shares last traded at $15.80, with a volume of 4,490 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Barclays reiterated an “overweight” rating and issued a $23.00 target price on shares of Hon Hai Precision Industry Co., Ltd. Sponsored GDR in a report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $23.00.

Hon Hai Precision Industry Co., Ltd. Sponsored GDR Stock Down 2.1%

The company’s fifty day moving average price is $15.97 and its 200-day moving average price is $15.44.

About Hon Hai Precision Industry Co., Ltd. Sponsored GDR

Hon Hai Precision Industry Co, Ltd., commonly known as Foxconn, is a Taiwan-based electronics manufacturing services company. It provides product design, component manufacturing, assembly, testing, supply-chain management and after-sales services for technology companies and other industrial customers.

The company manufactures and supports a broad range of products, including smartphones, computers, servers, networking equipment, televisions, game consoles, electronic components and connectors.