Hitachi (OTCMKTS:HTHIY) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Hitachi Ltd. (OTCMKTS:HTHIY) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $33.30 and traded as low as $31.8001. Hitachi shares last traded at $31.96, with a volume of 563,146 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Nomura upgraded Hitachi to a “strong-buy” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Hitachi currently has a consensus rating of “Moderate Buy”.

Hitachi Stock Performance

The company’s fifty day simple moving average is $33.30 and its two-hundred day simple moving average is $30.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 1.08. The stock has a market capitalization of $146.39 billion, a P/E ratio of 21.59, a PEG ratio of 1.37 and a beta of 0.86.

Hitachi (OTCMKTS:HTHIY) last issued its quarterly earnings data on Thursday, January 29th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $17.68 billion during the quarter, compared to analysts’ expectations of $16.85 billion. Hitachi had a return on equity of 13.27% and a net margin of 8.05%. As a group, equities analysts forecast that Hitachi Ltd. will post 0.47 EPS for the current 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.