Subaru (OTCMKTS:FUJHY) Shares Gap Down - Here's What Happened

Key Points

• Subaru's share price gapped down from $10.33 to $10.00 before the market opened, closing at $10.08 with a trading volume of 4,838 shares.
• Goldman Sachs upgraded Subaru's rating from "neutral" to "buy," signaling positive market sentiment towards the company.
• In its latest earnings report, Subaru exceeded profit expectations, posting $0.26 EPS and revenue of $8.23 billion compared to an anticipated $7.32 billion.

Subaru Corporation (OTCMKTS:FUJHY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $10.33, but opened at $10.00. Subaru shares last traded at $10.08, with a volume of 4,838 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Subaru from a "neutral" rating to a "buy" rating in a report on Thursday, July 24th.

Subaru Trading Up 0.1%

The company's 50 day moving average price is $9.03 and its two-hundred day moving average price is $9.05. The stock has a market cap of $14.69 billion, a P/E ratio of 7.11 and a beta of 0.42.

Subaru (OTCMKTS:FUJHY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Subaru had a net margin of 6.40% and a return on equity of 11.62%. The firm had revenue of $8.23 billion for the quarter, compared to analysts' expectations of $7.32 billion. On average, sell-side analysts anticipate that Subaru Corporation will post 1.44 earnings per share for the current year.

Hedge Funds Weigh In On Subaru

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Subaru by 1,214.1% during the 1st quarter. GAMMA Investing LLC now owns 120,802 shares of the company's stock worth $1,076,000 after acquiring an additional 111,609 shares during the period. Great Lakes Advisors LLC raised its stake in Subaru by 26.8% during the 1st quarter. Great Lakes Advisors LLC now owns 293,796 shares of the company's stock worth $2,618,000 after acquiring an additional 62,043 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in Subaru by 24.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 50,737 shares of the company's stock worth $442,000 after acquiring an additional 9,993 shares during the period. Institutional investors own 0.01% of the company's stock.

About Subaru

Subaru Corporation manufactures and sells automobiles and aerospace products in Japan, rest of Asia, North America, Europe, and internationally. It operates through three segments: Automotive, Aerospace, and Others. The company manufactures, sells, and repairs passenger cars and their components, aircrafts, aerospace-related machinery, and related components; and rents and manages real estate properties.