Fuji Electric (OTCMKTS:FELTY) Shares Gap Down – Here’s Why

Fuji Electric Co., Ltd. – Unsponsored ADR (OTCMKTS:FELTY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $17.58, but opened at $16.42. Fuji Electric shares last traded at $16.42, with a volume of 10,240 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut Fuji Electric to a “sell” rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Fuji Electric Price Performance

The company has a 50 day moving average of $18.68 and a 200 day moving average of $18.01.

About Fuji Electric

Fuji Electric Co, Ltd. (OTCMKTS: FELTY) is a Japanese engineering company specializing in the design, manufacture and sale of power electronics, industrial automation systems and energy infrastructure equipment. Established in 1923 as a joint undertaking between Furukawa Electric and General Electric, the company has evolved to become a global supplier of power semiconductors, inverters, switchgear, motors and generators. Its product lineup spans a range of applications, from high-voltage transmission and distribution systems to factory automation and renewable energy solutions.

The company operates through several business segments, including Energy & Environment, Industrial Infrastructure, Power Electronics and Electronic Devices.