Sharp (OTCMKTS:SHCAY) Sees Large Volume Increase After Earnings Beat

Key Points

• Sharp Corp. experienced a significant increase in trading volume, with shares trading 19,274, reflecting a 202% rise compared to the prior session.
• The company reported $0.04 earnings per share, surpassing analysts' expectations of $0.02, alongside a revenue of $3.20 billion compared to a forecast of $3.09 billion.
• Sharp's current stock price is $1.31, with a market capitalization of $3.40 billion and a PE ratio of 8.19.

Sharp Corp. (OTCMKTS:SHCAY - Get Free Report) shares saw unusually-strong trading volume on Monday after the company announced better than expected quarterly earnings. Approximately 19,274 shares traded hands during trading, an increase of 202% from the previous session's volume of 6,381 shares.The stock last traded at $1.31 and had previously closed at $1.32.

The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. Sharp had a net margin of 3.12% and a return on equity of 18.62%. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.09 billion.

Sharp Price Performance

The firm has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.33. The company has a market cap of $3.40 billion, a PE ratio of 8.19 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 2.42.

Sharp Company Profile

Sharp Corporation manufactures and sells telecommunication equipment, electric and electronic application equipment, and electronic components in Japan, China, and internationally. It operates through five segments: Smart Life, 8K Ecosystem, ICT, Display Device, and Electronic Device. The Smart Life segment offers refrigerators, superheated steam ovens, microwave ovens, small cooking appliances, air conditioners, washing machines, vacuum cleaners, air purifiers, electric fans, dehumidifiers, humidifiers, electric heaters, plasmacluster ion generators, beauty appliances, electronic dictionaries, calculators, telephones, network control units, solar cells, storage batteries, etc.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.