Hoya (OTCMKTS:HOCPY) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Hoya Corp.'s stock price surpassed its 50-day moving average of $131.31, reaching a high of $144.99 during trading.
• Multiple analysts have recently upgraded Hoya's rating to "strong-buy," highlighting a consensus recommendation for the stock.
• The company's latest earnings report showed earnings per share of $1.05, exceeding expectations of $1.04, with revenue of $1.53 billion against a forecast of $1.47 billion.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $131.31 and traded as high as $144.99. Hoya shares last traded at $144.78, with a volume of 55,923 shares trading hands.

Analyst Ratings Changes

HOCPY has been the subject of several analyst reports. Nomura Securities upgraded Hoya to a "strong-buy" rating in a research report on Monday, August 18th. The Goldman Sachs Group raised Hoya from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Hoya currently has a consensus rating of "Strong Buy".

Hoya Stock Up 2.5%

The firm has a market cap of $49.07 billion, a price-to-earnings ratio of 35.75, a price-to-earnings-growth ratio of 2.98 and a beta of 0.94. The stock's 50 day moving average is $132.08 and its 200 day moving average is $121.96. 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 released its earnings results on Friday, August 1st. The technology company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. Hoya had a return on equity of 21.01% and a net margin of 23.57%.The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. Analysts forecast 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.