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

Key Points

• LY Corporation's shares gapped down from a previous close of $6.32 to $6.13 during Thursday's pre-market trading, with a trading volume of 83,729 shares.
• Zacks Research downgraded LY from a "strong-buy" to a "hold" rating, contributing to a consensus "Hold" rating among analysts.
• The company reported $0.08 earnings per share for the quarter, with total revenue of $3.39 billion and a projected earnings per share of $0.26 for the fiscal year.

LY Corporation Unsponsored ADR (OTCMKTS:YAHOY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $6.32, but opened at $6.13. LY shares last traded at $6.13, with a volume of 83,729 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered LY from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

LY Stock Down 2.4%

The company has a 50-day simple moving average of $6.62 and a two-hundred day simple moving average of $7.02. The stock has a market cap of $21.23 billion, a P/E ratio of 22.85 and a beta of 0.70.

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. LY had a return on equity of 5.81% and a net margin of 7.78%.The company had revenue of $3.39 billion for the quarter. As a group, sell-side analysts forecast that LY Corporation Unsponsored ADR will post 0.26 earnings per share for the current fiscal year.

LY Company Profile

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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