Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Down – Here’s Why

Sumitomo Heavy (OTCMKTS:SOHVY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $8.9050, but opened at $8.1820. Sumitomo Heavy shares last traded at $8.1820, with a volume of 200 shares changing hands.

Sumitomo Heavy Stock Performance

The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 18.60 and a beta of 0.23. The company’s fifty day simple moving average is $8.44 and its 200 day simple moving average is $7.10. The company has a quick ratio of 1.12, a current ratio of 1.92 and a debt-to-equity ratio of 0.19.

Sumitomo Heavy (OTCMKTS:SOHVY) last announced its earnings results on Friday, February 13th. The company reported $0.17 EPS for the quarter. Sumitomo Heavy had a net margin of 2.89% and a return on equity of 5.10%. The business had revenue of $2.04 billion during the quarter.

Sumitomo Heavy Company Profile

Sumitomo Heavy Industries, Ltd. (OTCMKTS: SOHVY) is a Japanese multinational manufacturer specializing in a broad range of industrial machinery and heavy equipment. Headquartered in Tokyo, the company operates as a core member of the Sumitomo Group, a major keiretsu with roots dating back to the early Meiji era. Sumitomo Heavy serves diverse markets by developing and producing advanced systems for material processing, energy generation, environmental management and transportation.

The company’s product portfolio encompasses industrial machinery such as metal?forming presses, injection molding machines and power transmission systems.