Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Down - Here's What Happened

Key Points

• Mitsubishi Heavy Industries shares gapped down from a prior close of $26.8075 to open at $25.8125, though trading volume was very light at 180 shares.
• UBS upgraded the stock from “Hold” to “Strong Buy,” giving Mitsubishi Heavy Industries an overall average analyst rating of “Buy.”
• The company’s latest quarterly results exceeded expectations, with EPS of $0.24 versus the $0.15 consensus estimate and revenue of $7.34 billion compared with the $7.09 billion forecast.

Shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $26.8075, but opened at $25.8125. Mitsubishi Heavy Industries shares last traded at $25.8125, with a volume of 180 shares changing hands.

Analyst Upgrades and Downgrades

Separately, UBS Group raised shares of Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Mitsubishi Heavy Industries has an average rating of "Buy".

Mitsubishi Heavy Industries Price Performance

The firm has a fifty day moving average of $24.10 and a 200 day moving average of $27.27. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $87.55 billion, a P/E ratio of 34.15 and a beta of 0.50.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 13.20%. The business had revenue of $7.34 billion for the quarter, compared to analysts' expectations of $7.09 billion.

Institutional Investors Weigh In On Mitsubishi Heavy Industries

A hedge fund recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. bought a new position in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,000 shares of the company's stock, valued at approximately $28,000.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company's activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.

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