Sharp (OTCMKTS:SHCAY) Shares Up 8.4% - Here's What Happened

Key Points

• Sharp Corp. shares experienced an 8.4% increase in price during mid-day trading, climbing to $1.42, with a significant volume surge of 279% compared to the average trading session.
• The company's recent quarterly earnings exceeded expectations, reporting $0.04 earnings per share against the anticipated $0.02, alongside a net revenue of $3.20 billion.
• Sharp Corp. has a market capitalization of $3.56 billion and a P/E ratio of 8.56, indicating its current valuation in the market.

Sharp Corp. (OTCMKTS:SHCAY - Get Free Report)'s share price shot up 8.4% during mid-day trading on Tuesday . The stock traded as high as $1.42 and last traded at $1.42. 25,458 shares traded hands during trading, an increase of 279% from the average session volume of 6,724 shares. The stock had previously closed at $1.31.

Sharp Stock Up 4.6%

The firm has a market capitalization of $3.56 billion, a P/E ratio of 8.56 and a beta of 0.73. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.97 and a current ratio of 1.29. The business's fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.33.

Sharp (OTCMKTS:SHCAY - Get Free Report) last released its quarterly earnings results on Friday, August 8th. 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. Equities analysts expect that Sharp Corp. will post 0.01 earnings per share for the current fiscal year.

About Sharp

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.

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