LY (OTCMKTS:YAHOY) Shares Gap Down - Here's What Happened

Key Points

• LY Corporation's stock price gapped down from $6.67 to $6.34 prior to trading on Thursday, with a trading volume of 329 shares.
• Zacks Research downgraded LY shares from a "strong-buy" rating to a "hold" rating, contributing to a consensus rating of "Hold" among analysts.
• LY posted earnings of $0.08 per share for the quarter with a revenue of $3.39 billion and a net margin of 7.78%.

LY Corporation Unsponsored ADR (OTCMKTS:YAHOY - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $6.67, but opened at $6.34. LY shares last traded at $6.34, with a volume of 329 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of LY from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, LY has a consensus rating of "Hold".

LY Trading Down 1.0%

The stock's 50-day simple moving average is $6.82 and its 200-day simple moving average is $7.04. The firm has a market capitalization of $22.92 billion, a P/E ratio of 24.44 and a beta of 0.67.

LY (OTCMKTS:YAHOY - Get Free Report) last posted its earnings results on Monday, August 4th. The technology company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $3.39 billion for the quarter. LY had a net margin of 7.78% and a return on equity of 5.81%. On average, equities research analysts expect that LY Corporation Unsponsored ADR will post 0.26 EPS for the current year.

About LY

LY Corporation engages in the online advertising and e-commerce businesses in Japan. The company provides LINE, a communication app; and Yahoo! JAPAN, an internet service that offers search, news, weather, shopping, auction, and other services. It also offers reuse, membership, and payment-related services.

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