Honda Motor (NYSE:HMC) Shares Gap Down - Here's Why

Key Points

• Honda Motor shares experienced a significant gap down from $33.11 to $32.00 at market opening, reflecting increased selling pressure with shares last trading at $31.76.
• The company recently faced a mix of analyst ratings, with Wall Street Zen upgrading it to "hold" while Zacks downgraded it to "strong sell," resulting in an average rating of "Reduce" from analysts.
• Institutional investors have actively increased their holdings in Honda Motor, with WealthCollab LLC lifting its stake by 66.2%, indicating growing interest despite the stock's recent volatility.

Honda Motor Co., Ltd. (NYSE:HMC - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $33.11, but opened at $32.00. Honda Motor shares last traded at $31.76, with a volume of 183,615 shares changing hands.

Analyst Ratings Changes

HMC has been the topic of several analyst reports. Wall Street Zen upgraded Honda Motor from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Macquarie lowered Honda Motor from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, Zacks Research lowered Honda Motor from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce".

Honda Motor Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.58. The firm has a market cap of $49.56 billion, a P/E ratio of 10.99, a PEG ratio of 1.10 and a beta of 0.52. The company's 50-day moving average is $33.31 and its two-hundred day moving average is $30.70.

Honda Motor (NYSE:HMC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.46. The business had revenue of $36.22 billion for the quarter, compared to analysts' expectations of $36.04 billion. Honda Motor had a net margin of 2.95% and a return on equity of 5.03%. As a group, equities analysts predict that Honda Motor Co., Ltd. will post 3.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Honda Motor

Hedge funds and other institutional investors have recently modified their holdings of the company. WealthCollab LLC lifted its stake in shares of Honda Motor by 66.2% in the 2nd quarter. WealthCollab LLC now owns 916 shares of the company's stock valued at $26,000 after purchasing an additional 365 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Honda Motor by 1,105.1% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 952 shares of the company's stock valued at $27,000 after acquiring an additional 873 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Honda Motor in the 2nd quarter valued at approximately $29,000. Bessemer Group Inc. boosted its position in Honda Motor by 460.2% during the 1st quarter. Bessemer Group Inc. now owns 1,098 shares of the company's stock valued at $30,000 after purchasing an additional 902 shares during the period. Finally, NewSquare Capital LLC boosted its position in Honda Motor by 99.8% during the 2nd quarter. NewSquare Capital LLC now owns 1,065 shares of the company's stock valued at $31,000 after purchasing an additional 532 shares during the period. 5.32% of the stock is owned by institutional investors and hedge funds.

Honda Motor Company Profile

Honda Motor Co, Ltd. develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally. It operates through four segments: Motorcycle Business, Automobile Business, Financial Services Business, and Power Product and Other Businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.