Hoya (OTCMKTS:HOCPY) Sees Strong Trading Volume - Here's Why

Key Points

• Hoya’s trading volume more than doubled to approximately 74,933 shares, while the stock rose to $170.77 from a previous close of $168.59.
• Zacks Research upgraded Hoya from “hold” to “strong buy,” giving the stock an average analyst rating of Strong Buy.
• Hoya exceeded quarterly expectations, reporting $1.23 in earnings per share versus estimates of $1.13 and revenue of $1.61 billion versus forecasts of $1.55 billion.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) saw strong trading volume on Friday. Approximately 74,933 shares were traded during trading, an increase of 103% from the previous session's volume of 36,895 shares. The stock last traded at $170.77 and had previously closed at $168.59.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Hoya from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating. According to MarketBeat, the stock presently has an average rating of "Strong Buy".

Hoya Price Performance

The stock's fifty day moving average price is $154.59 and its 200-day moving average price is $163.08. The firm has a market cap of $55.46 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 3.50 and a beta of 0.97. The company has a current ratio of 4.91, a quick ratio of 4.20 and a debt-to-equity ratio of 0.03.

Hoya (OTCMKTS:HOCPY - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The technology company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.10. Hoya had a net margin of 27.58% and a return on equity of 25.78%. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.55 billion. As a group, equities research analysts forecast that Hoya Corp. will post 5.26 earnings per share for the current fiscal year.

About Hoya

HOYA Corporation is a Japan-based technology and healthcare company that develops and manufactures optical products and precision components. Founded in 1941 as an optical glass manufacturer, the company has expanded into medical devices, vision care, and advanced technologies used in semiconductor production and other industrial applications.

Through its Life Care businesses, HOYA provides prescription eyeglass lenses, contact lenses, intraocular lenses used in cataract surgery, and medical equipment such as endoscopic systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.