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

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.

Byd Co., Ltd. (OTCMKTS:BYDDY - Get Free Report)'s share price gapped down before the market opened 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 trading hands.

BYD Trading Down 2.7%

The firm has a 50 day moving average price of $95.78 and a 200 day moving average price of $93.52. The stock has a market capitalization of $127.31 billion, a PE ratio of 20.02, a P/E/G ratio of 3.07 and a beta of 0.09. The company has a quick ratio of 0.51, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

BYD Increases Dividend

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