Hoya (OTCMKTS:HOCPY) Share Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Hoya Corp. (OTCMKTS:HOCPY) recently surpassed its 50-day moving average of $135.20, reaching a trading high of $152.85, with shares last at $151.82.
• Major financial firms, including Goldman Sachs and Nomura Securities, have upgraded Hoya to a "strong-buy" rating, reflecting positive outlooks from multiple analysts.
• The company reported $1.05 EPS for the last quarter, exceeding estimates, with a revenue of $1.53 billion, indicating robust performance and strong market fundamentals.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $135.20 and traded as high as $152.85. Hoya shares last traded at $151.82, with a volume of 87,647 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HOCPY. 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. Nomura Securities upgraded shares of Hoya to a "strong-buy" rating in a research report on Monday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Hoya has an average rating of "Strong Buy".

Hoya Price Performance

The company's fifty day moving average is $135.20 and its 200 day moving average is $123.70. The firm has a market cap of $52.09 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 3.12 and a beta of 1.03. The company has a quick ratio of 4.46, a current ratio of 5.19 and a debt-to-equity ratio of 0.03.

Hoya (OTCMKTS:HOCPY - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. Hoya had a net margin of 23.57% and a return on equity of 21.01%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, equities research analysts predict 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.

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.