SoftBank Group (OTCMKTS:SFTBY) Sees Unusually-High Trading Volume – Here’s Why

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) saw an uptick in trading volume on Wednesday. Approximately 3,258,315 shares changed hands during trading, an increase of 2% from the previous session’s volume of 3,180,744 shares. The stock last traded at $16.49 and had previously closed at $17.27.

Wall Street Analysts Forecast Growth

SFTBY has been the topic of several research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft upgraded SoftBank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

SoftBank Group Trading Down 5.5%

The business’s 50-day moving average price is $18.54 and its 200 day moving average price is $18.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.68 and a quick ratio of 0.67. The firm has a market capitalization of $186.43 billion, a price-to-earnings ratio of 5.76 and a beta of 1.91.

SoftBank Group (OTCMKTS:SFTBY) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.23 billion. SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. On average, equities analysts forecast that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current fiscal year.

SoftBank Group Company Profile

SoftBank Group Corp. is a Japanese holding company focused on technology investments and telecommunications-related businesses. Founded by Masayoshi Son in 1981 as a distributor of computer software, the company expanded into internet services, mobile communications, and global technology investing. Its portfolio has included companies in artificial intelligence, e-commerce, fintech, enterprise software, semiconductors, and other technology sectors.

SoftBank Group manages investment activities through vehicles such as the SoftBank Vision Funds, which provide capital to technology companies at various stages of development.