ABB (OTCMKTS:ABBNY) Sees Large Volume Increase – Here’s Why

ABB Ltd (OTCMKTS:ABBNY) shares saw unusually-high trading volume on Thursday . 553,042 shares changed hands during trading, an increase of 63% from the previous session’s volume of 338,616 shares.The stock last traded at $107.36 and had previously closed at $105.84.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research note on Wednesday, May 6th. Kepler Capital Markets cut shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Berenberg Bank upgraded shares of ABB to a “hold” rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft raised shares of ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. Finally, Citigroup restated a “neutral” rating on shares of ABB in a research note on Thursday, June 18th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $58.00.

ABB Stock Performance

The company has a 50-day moving average of $103.00 and a 200-day moving average of $89.19. The firm has a market capitalization of $195.06 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 1.73 and a beta of 1.36. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.