Hoya (OTCMKTS:HOCPY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Hoya Corp. (OTCMKTS:HOCPY) experienced a significant increase in trading volume, with approximately 95,856 shares traded, up 171% from the previous session.
• Analysts have recently upgraded Hoya from a "hold" to a "strong-buy" rating, indicating increased confidence in the company's stock performance.
• Despite a 0.2% decline in stock price to $127.15, Hoya reported quarterly earnings of $0.98 EPS, slightly missing estimates but achieving a revenue of $1.52 billion, above analyst expectations.

Shares of Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) saw strong trading volume on Thursday . 95,856 shares traded hands during trading, an increase of 171% from the previous session's volume of 35,384 shares.The stock last traded at $127.15 and had previously closed at $127.34.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Hoya from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Erste Group Bank raised shares of Hoya from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd.

Hoya Trading Up 6.2%

The company has a quick ratio of 4.21, a current ratio of 4.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $42.32 billion, a P/E ratio of 30.84, a PEG ratio of 2.32 and a beta of 0.91. The firm's 50 day moving average is $120.19 and its two-hundred day moving average is $120.00.

Hoya (OTCMKTS:HOCPY - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.47 billion. Hoya had a net margin of 23.57% and a return on equity of 21.24%. As a group, equities research analysts anticipate that Hoya Corp. will post 3.66 EPS for the current year.

About Hoya

HOYA Corporation, a med-tech company, provides high-tech and medical products worldwide. It operates through three segments: Life Care, Telecommunication, and Other. The company offers life care products, including eyeglass and contact lenses; medical endoscopes; intraocular lenses; laparoscopic surgical instruments; automatic endoscope cleaning equipment; and other medical related products, such as prosthetic ceramic fillers and metallic implants for orthopedics.