Hoya (OTCMKTS:HOCPY) Share Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Hoya Corp. shares have crossed above their 50-day moving average, reaching a trading high of $131.00 before closing at $129.89.
• Analysts have recently upgraded Hoya to a "strong-buy" rating, with three firms supporting this rating based on positive market sentiment.
• The company reported strong quarterly earnings of $1.05 per share, surpassing expectations, with revenues totaling $1.53 billion compared to a forecast of $1.47 billion.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $125.65 and traded as high as $131.00. Hoya shares last traded at $129.89, with a volume of 10,941 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HOCPY. Nomura Securities raised Hoya to a "strong-buy" rating in a research note on Monday, August 18th. The Goldman Sachs Group upgraded Hoya from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Finally, Erste Group Bank upgraded Hoya from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of "Strong Buy".

Hoya Stock Performance

The stock has a fifty day simple moving average of $125.65 and a 200-day simple moving average of $119.92. The stock has a market cap of $44.57 billion, a P/E ratio of 32.47, a PEG ratio of 2.73 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.46 and a current ratio of 5.19.

Hoya (OTCMKTS:HOCPY - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $1.47 billion. Hoya had a return on equity of 21.01% and a net margin of 23.57%. On average, equities analysts expect that Hoya Corp. will post 3.66 earnings per share for the current year.

Hoya Company Profile

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.

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