Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Itochu Corp. (OTCMKTS:ITOCY) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 71,229 shares, a decrease of 85.2% from the May 31st total of 479,668 shares. Based on an average daily volume of 1,013,167 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Institutional Trading of Itochu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC raised its stake in shares of Itochu by 4.8% in the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Itochu by 21.8% during the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $364,000 after buying an additional 516 shares during the last quarter. OLD National Bancorp IN bought a new stake in Itochu during the fourth quarter worth $201,000. Atlas Capital Advisors Inc. bought a new stake in Itochu during the fourth quarter worth $279,000. Finally, Aristotle Capital Management LLC purchased a new stake in Itochu in the 4th quarter valued at $1,487,000. 0.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Daiwa Securities Group raised Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Itochu Stock Up 2.5%

ITOCY traded up $0.28 during trading on Friday, hitting $11.35. 435,048 shares of the company’s stock were exchanged, compared to its average volume of 542,675. Itochu has a fifty-two week low of $10.08 and a fifty-two week high of $15.10. The stock has a market cap of $89.94 billion, a P/E ratio of 12.75 and a beta of 0.62. The business’s 50 day moving average is $12.06 and its two-hundred day moving average is $29.05. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $24.49 billion for the quarter, compared to analyst estimates of $28.52 billion. As a group, equities analysts expect that Itochu will post 0.86 earnings per share for the current fiscal year.

About Itochu

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.