Sumitomo Chemcl (OTCMKTS:SOMMY) Shares Down 10.3% – Here’s Why

Shares of Sumitomo Chemcl (OTCMKTS:SOMMY) dropped 10.3% during trading on Wednesday . The company traded as low as $17.95 and last traded at $17.95. 227 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,987 shares. The stock had previously closed at $20.00.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Sumitomo Chemcl to a “hold” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Sumitomo Chemcl Stock Down 10.3%

The company has a market capitalization of $5.97 billion, a P/E ratio of 8.51 and a beta of 0.37. The company has a quick ratio of 0.91, a current ratio of 1.51 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $16.83 and a 200-day simple moving average of $16.85.

About Sumitomo Chemcl

Sumitomo Chemical Co, Ltd. is a diversified chemical company headquartered in Tokyo, Japan. Established in 1913 as part of the historic Sumitomo Group, the company has grown into a global industry leader, operating across multiple chemical and material science industries. It is listed in Japan’s premier equity markets and is available to U.S. investors via its American depositary receipts trading under the ticker SOMMY on the OTCMKTS exchange.

The company’s operations are organized into several core business segments, including petrochemicals, energy and functional materials, IT?related chemicals, living materials, and health & crop sciences.