Shares of BYD (BYDDY, Financial) experienced a significant rise of 5.01% on the OTC market, reaching $74.52 per share, with a trading volume of 625,678 shares and a turnover rate of 0.04%. The stock's fluctuation rate hit 3.52%.
BYD's recent financial report indicates an operating revenue of $23.891 billion, a net profit of $1.251 billion, an earnings per share (EPS) of $0.86, and a gross profit of $4.111 billion. The price-to-earnings (P/E) ratio stands at 24.08. Among the seven institutions rating the stock, all recommended a buy.
In the auto manufacturing sector of the OTC market, the overall decline was 0.85%. Notable stocks in this sector include Li Auto, Zeekr, and Mullen Automotive, Inc. Mullen Automotive, Inc., Faraday Future, and Workhorse Group, Inc. showed significant activity with turnover rates of 481.62%, 24.47%, and 10.32%, respectively. Stocks with notable price swings included Faraday Future Intelligent Elec Inc C/Wts (To Pur Com) with a 37.17% fluctuation, Mullen Automotive, Inc. with 37.14%, and Lotus Technology Inc C/Wts 22/02/2029 (To Pur Com) with 20.00%.
Founded in 1995, BYD is a leading Chinese manufacturer of new energy vehicles, focusing on mid-priced cars. The company ceased production of internal combustion engine vehicles in March 2022. In 2023, BYD sold around 3 million passenger new energy vehicles, capturing 33% of the Chinese market. Besides automotive production, the company is also involved in mobile phone components, assembly services, and rechargeable batteries and photovoltaic business. BYD has established over 30 industrial parks globally.
At the time of writing, 0.83% of the news related to BYD (BYDDY, Financial) on the OTC market is positive. A significant piece of news impacting the stock is the recall of nearly 100,000 BYD Dolphin and Yuan PLUS electric vehicles due to fire risks. BYD filed the recall plan with the State Administration for Market Regulation, affecting vehicles produced between February 4, 2023, and December 26, 2023, and between November 2, 2022, and June 19, 2023.
