Sumitomo Corp. (OTCMKTS:SSUMY) Sees Significant Increase in Short Interest

Sumitomo Corp. (OTCMKTS:SSUMY) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 103,392 shares, an increase of 17.0% from the February 12th total of 88,407 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 188,156 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 188,156 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the stock are short sold.

Sumitomo Stock Performance

OTCMKTS SSUMY opened at $35.86 on Tuesday. The company has a 50-day simple moving average of $39.66 and a two-hundred day simple moving average of $34.03. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Sumitomo has a 12-month low of $19.18 and a 12-month high of $44.15. The firm has a market cap of $43.15 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.29 and a beta of 0.46.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings data on Wednesday, February 4th. The conglomerate reported $0.58 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.20). Sumitomo had a return on equity of 11.27% and a net margin of 7.56%.The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.72 billion. On average, equities analysts forecast that Sumitomo will post 2.82 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Sumitomo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.