Hitachi (OTCMKTS:HTHIY) Shares Gap Down – Should You Sell?

Shares of Hitachi Ltd. (OTCMKTS:HTHIY) gapped down prior to trading on Thursday . The stock had previously closed at $37.73, but opened at $35.34. Hitachi shares last traded at $36.3240, with a volume of 60,698 shares trading hands.

Wall Street Analysts Forecast Growth

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

Hitachi Stock Down 4.0%

The firm’s 50-day moving average is $33.02 and its 200 day moving average is $30.70. The firm has a market capitalization of $165.88 billion, a P/E ratio of 24.47, a PEG ratio of 1.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.88 and a current ratio of 1.08.

Hitachi (OTCMKTS:HTHIY) last released its 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. Hitachi had a return on equity of 13.27% and a net margin of 8.05%.The firm had revenue of $17.68 billion for the quarter, compared to analysts’ expectations of $16.85 billion. As a group, equities research analysts predict that Hitachi Ltd. will post 0.47 EPS for the current fiscal 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.