ABB (OTCMKTS:ABBNY) Sees Unusually-High Trading Volume – What’s Next?

Shares of ABB Ltd (OTCMKTS:ABBNY) saw an uptick in trading volume on Thursday. 589,391 shares traded hands during mid-day trading, an increase of 84% from the average daily volume of 319,510 shares. The stock last traded at $83.3332 and had previously closed at $86.58.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ABB in a research note on Tuesday, September 22nd. Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a report on Friday, September 18th. Dnb Carnegie raised shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Pareto Securities raised shares of ABB from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of ABB in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, ABB has a consensus rating of “Hold”.

ABB Price Performance

The firm’s 50 day simple moving average is $93.86 and its two-hundred day simple moving average is $95.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 1.08. The firm has a market capitalization of $149.22 billion, a P/E ratio of 29.66, a P/E/G ratio of 1.08 and a beta of 1.42.

ABB (OTCMKTS:ABBNY) last announced its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.42). ABB had a return on equity of 31.11% and a net margin of 13.55%. The company had revenue of $9.70 billion during the quarter. As a group, analysts predict that ABB Ltd will post 3.84 earnings per share for the current year.

Institutional Trading of ABB

An institutional investor recently bought a new stake in ABB stock. North Star Asset Management Inc. purchased a new stake in shares of ABB Ltd (OTCMKTS:ABBNY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. Institutional investors own 1.06% of the company’s stock.

ABB Company Profile

ABB Ltd. (OTCMKTS:ABBNY) is a Swiss-Swedish technology company that develops products, systems and services for electrification, industrial automation and energy management. Its offerings include electrical distribution equipment, industrial control systems, motors, drives, measurement and analytical instruments, and software designed to improve the efficiency, reliability and sustainability of industrial and commercial operations.

The company also provides robotics and automation solutions for manufacturing, logistics and other industrial applications.