Hitachi, Ltd. (OTCMKTS:HTHIY) Sees Significant Increase in Short Interest

Hitachi, Ltd. (OTCMKTS:HTHIY) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 30,600 shares, an increase of 152.9% from the September 15th total of 12,100 shares. Based on an average daily volume of 71,500 shares, the short-interest ratio is presently 0.4 days.

Shares of OTCMKTS:HTHIY traded down $0.06 during midday trading on Thursday, reaching $114.94. 11,668 shares of the company were exchanged, compared to its average volume of 34,514. The stock has a fifty day simple moving average of $115.53 and a two-hundred day simple moving average of $109.11. The company has a quick ratio of 0.93, a current ratio of 1.29 and a debt-to-equity ratio of 0.38. Hitachi has a fifty-two week low of $66.44 and a fifty-two week high of $124.74. The firm has a market cap of $55.56 billion, a PE ratio of 12.28, a P/E/G ratio of 2.59 and a beta of 0.85.

Hitachi (OTCMKTS:HTHIY) last released its earnings results on Friday, July 30th. The conglomerate reported $2.28 earnings per share (EPS) for the quarter. Hitachi had a net margin of 5.74% and a return on equity of 12.96%. The company had revenue of $21.33 billion for the quarter. As a group, analysts forecast that Hitachi will post 11.91 earnings per share for the current year.

Separately, Zacks Investment Research upgraded shares of Hitachi from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a report on Wednesday, September 29th.

About Hitachi

Hitachi Ltd. engages in the manufacture and sale of electrical equipment. It operates through the following segments: IT, Energy, Industry, Mobility, Life, Hitachi High Technologies, Hitachi Construction Machinery, Hitachi Metals, Hitachi Chemical and Others. The IT segment handles system integration, consulting, control system, cloud service, software, IT products such as storage and servers, and automated teller machines.

Further Reading: Initial Coin Offering (ICO)

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