Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Down – Here’s What Happened

Shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) gapped down before the market opened on Monday. The stock had previously closed at $23.7750, but opened at $22.51. Mitsubishi Heavy Industries shares last traded at $22.51, with a volume of 3,684 shares traded.

Analyst Ratings Changes

MHVYF has been the subject of several research reports. Sanford C. Bernstein assumed coverage on Mitsubishi Heavy Industries in a research report on Tuesday, September 15th. They issued an “outperform” rating for the company. UBS Group raised shares of Mitsubishi Heavy Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Mitsubishi Heavy Industries Price Performance

The stock has a market cap of $80.61 billion, a P/E ratio of 31.44 and a beta of 0.52. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $24.84 and its 200-day simple moving average is $25.39.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.09 billion. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 12.97%.

Institutional Trading of Mitsubishi Heavy Industries

An institutional investor recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. purchased a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the company’s stock, valued at approximately $28,000.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. is a Japan-based industrial engineering and manufacturing company that develops and supplies large-scale equipment, systems and infrastructure for customers around the world. Its operations span energy, industrial machinery, infrastructure, transportation, aerospace and defense.

The company provides gas turbines, steam turbines, boilers, power-generation systems and carbon-reduction technologies, as well as machinery and systems used in factories, logistics operations and environmental applications.