Fuji Electric (OTCMKTS:FELTY) Shares Gap Down – Here’s What Happened

Shares of Fuji Electric Co., Ltd. – Unsponsored ADR (OTCMKTS:FELTY) gapped down prior to trading on Tuesday . The stock had previously closed at $23.99, but opened at $22.77. Fuji Electric shares last traded at $22.45, with a volume of 24,341 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group downgraded shares of Fuji Electric to a “sell” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Fuji Electric Trading Down 2.8%

The company has a fifty day simple moving average of $19.09 and a two-hundred day simple moving average of $18.70.

Fuji Electric Company Profile

Fuji Electric Co, Ltd. (OTCMKTS: FELTY) is a Japanese engineering company specializing in the design, manufacture and sale of power electronics, industrial automation systems and energy infrastructure equipment. Established in 1923 as a joint undertaking between Furukawa Electric and General Electric, the company has evolved to become a global supplier of power semiconductors, inverters, switchgear, motors and generators. Its product lineup spans a range of applications, from high-voltage transmission and distribution systems to factory automation and renewable energy solutions.

The company operates through several business segments, including Energy & Environment, Industrial Infrastructure, Power Electronics and Electronic Devices.