ABB (OTCMKTS:ABBNY) Sees Strong Trading Volume – Here’s Why

ABB Ltd (OTCMKTS:ABBNY) shares saw unusually-strong trading volume on Thursday . 553,042 shares were traded during mid-day 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.

Analysts Set New Price Targets

ABBNY has been the topic of a number of recent research reports. Citigroup restated a “neutral” rating on shares of ABB in a report on Thursday, June 18th. Zacks Research lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Kepler Capital Markets downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised shares of ABB from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft raised ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ABB currently has a consensus rating of “Reduce” and an average target price of $58.00.

ABB Stock Down 2.8%

The company has a market capitalization of $189.43 billion, a P/E ratio of 38.20, a P/E/G ratio of 1.74 and a beta of 1.36. The business’s fifty day moving average price is $103.51 and its 200 day moving average price is $89.53. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43.

ABB Company Profile

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.