IHI (OTCMKTS:IHICY) Shares Gap Down – What’s Next?

Ihi Corp (OTCMKTS:IHICY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $23.18, but opened at $21.98. IHI shares last traded at $22.8650, with a volume of 106,008 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on IHICY. The Goldman Sachs Group lowered IHI from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Zacks Research lowered shares of IHI from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

IHI Stock Performance

The stock has a fifty day simple moving average of $19.35 and a 200-day simple moving average of $22.85. The stock has a market cap of $25.13 billion, a P/E ratio of 35.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 1.19.

About IHI

IHI Corporation (OTCMKTS: IHICY) is a Japanese engineering and industrial conglomerate originally known as Ishikawajima‑Harima Heavy Industries. Headquartered in Tokyo, the company designs, manufactures and services a broad range of heavy machinery, equipment and integrated systems for industrial and infrastructure markets. Its securities are available to international investors through American depositary receipts that trade over the counter under the symbol IHICY.

IHI’s principal activities span several sectors, including aerospace, energy and industrial machinery.