Itochu (OTCMKTS:ITOCY) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Itochu Corp. (OTCMKTS:ITOCY)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.20 and traded as low as $12.43. Itochu shares last traded at $12.75, with a volume of 670,352 shares trading hands.

Analyst Ratings Changes

Several analysts have recently weighed in on ITOCY shares. Zacks Research upgraded Itochu to a “hold” rating in a report on Monday, January 12th. Daiwa Securities Group raised shares of Itochu to a “strong-buy” rating in a report on Friday, February 27th. Nomura raised shares of Itochu to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Itochu in a report on Tuesday, January 6th. They set a “buy” rating on the stock. Two 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Itochu Trading Down 1.7%

The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 0.41. The company has a market cap of $102.30 billion, a price-to-earnings ratio of 13.73 and a beta of 0.70. The firm has a 50 day moving average price of $13.34 and a two-hundred day moving average price of $72.78.

Institutional Inflows and Outflows

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

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.