Short Interest in Toray Industries Inc. (OTCMKTS:TRYIY) Increases By 174.0%

Toray Industries Inc. (OTCMKTS:TRYIY) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 189,152 shares, an increase of 174.0% from the August 15th total of 69,030 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 55,330 shares, the days-to-cover ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Toray Industries to a “hold” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Toray Industries Price Performance

TRYIY opened at $16.18 on Friday. The business has a fifty day moving average of $15.39 and a 200 day moving average of $14.77. The stock has a market cap of $12.17 billion, a P/E ratio of 19.73 and a beta of 0.51. The company has a quick ratio of 1.15, a current ratio of 1.87 and a debt-to-equity ratio of 0.27. Toray Industries has a 52-week low of $11.70 and a 52-week high of $17.51.

Toray Industries (OTCMKTS:TRYIY) last released its earnings results on Thursday, August 6th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Toray Industries had a return on equity of 4.84% and a net margin of 3.48%.The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.03 billion. As a group, sell-side analysts anticipate that Toray Industries will post 0.79 EPS for the current year.

Toray Industries Company Profile

Toray Industries, Inc is a Japanese chemicals and advanced materials company founded in 1926. The company develops and manufactures products based on polymer chemistry, organic synthesis, biotechnology and nanotechnology for industrial and consumer applications.

Its businesses include synthetic fibers and textiles, engineering plastics, resin products, films, chemicals, carbon fiber and carbon-fiber composite materials, as well as electronic and information-related materials. Toray also provides water-treatment products, including reverse-osmosis membranes and other separation technologies, and develops pharmaceutical and medical products.

Toray serves customers in industries such as aerospace, automotive, electronics, construction, energy, healthcare and apparel.