BYD (OTCMKTS:BYDDY) Shares Gap Down - Here's Why

Key Points

• BYD's share price experienced a dramatic drop, opening at $15.78 from a previous close of $96.62, reflecting an 84% decline.
• The company announced an increase in its dividend to $0.8801, payable on August 13th, which is an improvement from the prior $0.72 dividend.
• As of now, BYD's market capitalization stands at $23.03 billion, with a low P/E ratio of 3.62, suggesting potential undervaluation compared to peers.

Shares of Byd Co., Ltd. (OTCMKTS:BYDDY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $96.62, but opened at $15.78. BYD shares last traded at $15.41, with a volume of 669,926 shares.

BYD Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.51 and a debt-to-equity ratio of 0.06. The firm has a market cap of $127.31 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.85 and a beta of 0.02. The stock has a 50 day simple moving average of $93.70 and a 200-day simple moving average of $93.34.

BYD Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Thursday, June 12th will be paid a $0.8801 dividend. This represents a yield of 84.0%. The ex-dividend date is Wednesday, June 11th. This is a boost from BYD's previous dividend of $0.72. BYD's dividend payout ratio (DPR) is currently 21.13%.

About BYD

BYD Company Limited, together with its subsidiaries, engages in automobiles and batteries business in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. The company operates in two segments: Mobile Handset Components, Assembly Service and Other Products; and Automobiles and Related Products and Other Products.