Fuji Electric (OTCMKTS:FELTY) Shares Gap Down - Here's Why

Key Points

• Shares gapped down — FELTY opened at $19.24 after closing at $20.25 and was last quoted at $19.24, trading down about 1.5% on light volume.
• Analyst downgrade: Goldman Sachs cut Fuji Electric to a "sell" on Jan. 19, and the stock carries an average rating of "Reduce" (one Hold, one Sell).
• Fuji Electric is a Japanese engineering firm that makes power electronics, industrial automation systems and energy infrastructure equipment, with recent 50‑ and 200‑day moving averages near $18.53 and $18.25 respectively.

Shares of Fuji Electric Co., Ltd. - Unsponsored ADR (OTCMKTS:FELTY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $20.25, but opened at $19.24. Fuji Electric shares last traded at $19.24, with a volume of 274 shares.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut Fuji Electric to a "sell" rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce".

Fuji Electric Trading Down 1.5%

The stock has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $18.25.

About Fuji Electric

Fuji Electric Co, Ltd. OTCMKTS: FELTY is a Japanese engineering company specializing in the design, manufacture and sale of power electronics, industrial automation systems and energy infrastructure equipment. Established in 1923 as a joint undertaking between Furukawa Electric and General Electric, the company has evolved to become a global supplier of power semiconductors, inverters, switchgear, motors and generators. Its product lineup spans a range of applications, from high-voltage transmission and distribution systems to factory automation and renewable energy solutions.

The company operates through several business segments, including Energy & Environment, Industrial Infrastructure, Power Electronics and Electronic Devices.

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