Sharp (OTCMKTS:SHCAY) Cut to Sell at Zacks Investment Research

Sharp (OTCMKTS:SHCAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “SHARP CORPORATION is a Japan-based company engaged in the manufacture and sale of electronic telecommunication devices, electronic machines and components. The Company operates in two business divisions. The Electronics Equipment division offers audio and video/communication products, including liquid crystal color televisions, projectors, digital versatile disc players and recorders, compact disc players and various telephones; electric appliances, as well as information equipment, such as personal computers, digital dictionaries, calculators, liquid crystal color monitors, information displays and copy machines. It also offers software. The Electronic Component division provides large-scale integrated circuits, liquid crystal display modules and other electronic components, such as batteries and parts for satellite broadcasting, among others. “

A number of other research analysts have also weighed in on SHCAY. Citigroup cut shares of Sharp from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 27th. Jefferies Financial Group raised shares of Sharp from an “underperform” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, ValuEngine upgraded shares of Sharp from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold”.

Shares of OTCMKTS SHCAY traded up $0.06 during midday trading on Wednesday, reaching $3.74. 155,614 shares of the stock traded hands, compared to its average volume of 29,963. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.23 and a quick ratio of 0.94. The stock has a market capitalization of $8.03 billion, a PE ratio of 17.79 and a beta of 1.45. Sharp has a one year low of $2.15 and a one year high of $3.95. The company’s 50 day moving average is $3.34 and its 200 day moving average is $2.84.

About Sharp

Sharp Corporation manufactures and distributes electronic communication equipment, electronic equipment, electronic application equipment, and electronic components in Japan, the Americas, Europe, China, and internationally. It operates through four segments: Smart Homes, Smart Business Solutions, Internet of Things (IoT) Electronics Devices, and Advance Display Systems.

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