Obic (OTCMKTS:OBIIF) Shares Down 12.6% - Here's What Happened

Key Points

• Obic Co shares fell 12.6% during trading, closing at $35.03, with a significant increase in trading volume by 725% compared to the average.
• The company reported quarterly earnings of $0.31 EPS, exceeding analysts' expectations of $0.28 EPS as well as revenue of $225.04 million, which was above the consensus estimate.
• Obic has a market capitalization of $15.41 billion and a P/E ratio of 38.49, indicating its valuation in the market.

Obic Co (OTCMKTS:OBIIF - Get Free Report)'s stock price traded down 12.6% during mid-day trading on Wednesday . The stock traded as low as $35.03 and last traded at $35.03. 775 shares were traded during mid-day trading, an increase of 725% from the average session volume of 94 shares. The stock had previously closed at $40.09.

Obic Trading Down 1.5%

The firm has a market capitalization of $15.18 billion, a P/E ratio of 38.49 and a beta of 0.62. The firm has a 50 day moving average price of $37.09 and a 200-day moving average price of $31.73.

Obic (OTCMKTS:OBIIF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. The business had revenue of $225.04 million for the quarter, compared to analysts' expectations of $217.16 million.

About Obic

OBIC Co,Ltd., together with its subsidiaries, provides system integration, system support, office automation, and package software services. It offers system integration services, including developing ERP software products to provide integrated administrative systems comprising personnel, payroll, working condition management, marketing, and production systems, as well as related training courses.