Obic (OTCMKTS:OBIIF) Shares Gap Up – Here’s What Happened

Obic Co (OTCMKTS:OBIIF)’s share price gapped up prior to trading on Monday. The stock had previously closed at $31.51, but opened at $33.3460. Obic shares last traded at $33.3460, with a volume of 14 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Obic to a “hold” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Obic currently has an average rating of “Hold”.

Obic Stock Down 8.2%

The stock’s 50-day simple moving average is $28.89 and its 200 day simple moving average is $25.86. The firm has a market cap of $13.07 billion, a P/E ratio of 25.82 and a beta of 0.68.

Obic (OTCMKTS:OBIIF) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $225.66 million during the quarter, compared to analyst estimates of $220.63 million. Obic had a return on equity of 15.65% and a net margin of 56.13%.

About Obic

Obic Co, Ltd. is a Japanese information technology company that develops and provides enterprise software and related services. Its principal offering is the OBIC7 suite, an enterprise resource planning platform designed to help organizations manage accounting, finance, human resources, payroll and other core business functions.

In addition to software products, Obic provides implementation consulting, system integration, maintenance and customer support. The company also offers cloud-based services and business solutions intended to help companies centralize data, streamline administrative processes and improve operational efficiency.

Founded in Japan in 1968, Obic primarily serves businesses and other organizations in the Japanese market through its domestic operations and support network.