Hitachi (OTCMKTS:HTHIY) Sees Strong Trading Volume – Here’s Why

Hitachi Ltd. (OTCMKTS:HTHIY) saw unusually-high trading volume on Thursday . Approximately 951,992 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 621,623 shares.The stock last traded at $32.63 and had previously closed at $32.43.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Hitachi from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hitachi Trading Up 2.4%

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.88. The business’s fifty day simple moving average is $32.54 and its 200 day simple moving average is $30.50. The stock has a market cap of $152.04 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.46 and a beta of 0.86.

Hitachi (OTCMKTS:HTHIY) last posted its quarterly earnings results on Thursday, January 29th. The conglomerate reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $17.68 billion during the quarter, compared to analyst estimates of $16.85 billion. Hitachi had a net margin of 8.05% and a return on equity of 13.38%. On average, research analysts predict that Hitachi Ltd. will post 0.47 EPS for the current year.

Hitachi Company Profile

Hitachi, Ltd. (OTCMKTS:HTHIY) is a Tokyo-headquartered multinational conglomerate that operates a diversified portfolio of businesses spanning information technology, energy and power systems, industrial machinery, transportation systems, and digital solutions. Founded in 1910 by engineer Namihei Odaira in the city of Hitachi, Ibaraki Prefecture, the company grew from an electrical repair shop and early induction motor manufacturing into a global engineering and technology group. Hitachi positions itself as a “social innovation” company, combining operational technology, information technology and domain knowledge to address infrastructure and industry challenges.

The company’s activities include design and manufacture of heavy industrial equipment and construction machinery, delivery of rail and urban transportation systems, development and provision of power generation and grid equipment, and enterprise IT services including systems integration and cloud solutions.