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

Shares of Hitachi Ltd. (OTCMKTS:HTHIY) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $28.24 and traded as high as $33.90. Hitachi shares last traded at $33.64, with a volume of 384,640 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Erste Group Bank raised Hitachi to a “hold” rating in a research note on Friday, October 3rd. Zacks Research raised Hitachi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Hitachi Price Performance

The stock has a 50 day moving average of $28.24 and a two-hundred day moving average of $27.85. The stock has a market cap of $154.08 billion, a PE ratio of 12.62, a PEG ratio of 1.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.12.

Hitachi (OTCMKTS:HTHIY) last issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $15.16 billion for the quarter, compared to analysts’ expectations of $2,342.55 billion. Hitachi had a return on equity of 10.83% and a net margin of 6.45%. Equities analysts anticipate that Hitachi Ltd. will post 0.47 EPS for the current year.

Hitachi Company Profile

Hitachi, Ltd. provides digital system and services, green energy and mobility, and connective industry solutions in Japan and internationally. It operates through seven segments: Digital Systems & Services, Green Energy & Mobility, Connective Industries, Automotive System, Hitachi Construction Machinery, Hitachi Metals, and Others.