Hoya (OTCMKTS:HOCPY) Shares Gap Up - Here's Why

Key Points

• Hoya Corp.'s stock price gapped up from $129.89 to $134.63 before trading, indicating positive momentum.
• Multiple analysts have upgraded Hoya's stock rating to "strong-buy," reflecting strong confidence in its growth potential.
• The company reported earnings of $1.05 EPS for the last quarter, surpassing expectations with a revenue of $1.53 billion, showcasing its operational strength.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $129.89, but opened at $134.63. Hoya shares last traded at $134.63, with a volume of 439 shares traded.

Wall Street Analyst Weigh In

HOCPY has been the subject of a number of research analyst reports. Nomura Securities upgraded Hoya to a "strong-buy" rating in a report on Monday, August 18th. The Goldman Sachs Group upgraded shares of Hoya from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Erste Group Bank raised shares of Hoya from a "hold" rating to a "strong-buy" rating in a report on Friday, May 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 Trading Up 3.6%

The business has a 50-day moving average price of $126.68 and a 200-day moving average price of $120.13. The company has a quick ratio of 4.46, a current ratio of 5.19 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $47.52 billion, a P/E ratio of 34.63, a PEG ratio of 2.92 and a beta of 0.94.

Hoya (OTCMKTS:HOCPY - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.47 billion. Hoya had a net margin of 23.57% and a return on equity of 21.01%. Analysts anticipate that Hoya Corp. will post 3.66 earnings per share 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.