Sumitomo Corp. (OTCMKTS:SSUMY) Sees Large Increase in Short Interest

Sumitomo Corp. (OTCMKTS:SSUMY) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 168,989 shares, an increase of 98.1% from the August 31st total of 85,305 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 396,449 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Sumitomo currently has an average rating of “Strong Buy”.

Sumitomo Trading Up 0.7%

Shares of SSUMY traded up $0.08 during mid-day trading on Wednesday, reaching $11.36. The stock had a trading volume of 24,568 shares, compared to its average volume of 347,118. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.94. The business’s fifty day moving average is $11.09 and its 200 day moving average is $28.19. Sumitomo has a 52-week low of $7.14 and a 52-week high of $12.45. The firm has a market cap of $54.31 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.99 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.58). The firm had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Sumitomo had a net margin of 8.23% and a return on equity of 12.71%. On average, sell-side analysts predict that Sumitomo will post 1.51 EPS for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation is a Japan-based global trading and business investment company. It operates across a broad range of industries, including metal products, transportation and construction systems, infrastructure, media and digital services, and lifestyle-related businesses.

The company is involved in the development, financing, and operation of infrastructure projects, as well as the trading and distribution of steel, nonferrous metals, energy, chemical products, food, and consumer goods.