Sumco Co. (OTCMKTS:SUOPY) Short Interest Down 93.0% in March

Sumco Co. (OTCMKTS:SUOPYGet Rating) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,000 shares, a decrease of 93.0% from the March 15th total of 14,300 shares. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is currently 0.4 days.

Shares of SUOPY stock traded up $0.28 during mid-day trading on Tuesday, reaching $29.63. The company’s stock had a trading volume of 507 shares, compared to its average volume of 1,713. The company has a market cap of $5.19 billion, a P/E ratio of 12.00 and a beta of 1.40. The firm’s 50-day moving average is $33.09 and its two-hundred day moving average is $38.00. Sumco has a 1-year low of $28.62 and a 1-year high of $51.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.96 and a current ratio of 4.64.

Sumco (OTCMKTS:SUOPYGet Rating) last announced its earnings results on Wednesday, February 9th. The company reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $802.84 million during the quarter, compared to analysts’ expectations of $731.82 million. Sumco had a net margin of 12.20% and a return on equity of 9.89%. Sell-side analysts anticipate that Sumco will post 3.29 EPS for the current year.

Separately, Zacks Investment Research upgraded shares of Sumco from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a research note on Wednesday, March 9th.

About Sumco (Get Rating)

SUMCO Corp. engages in the manufacture and sale of silicon wafers for semiconductor industry. Its silicon products range from single crystal silicon ingots to polished, epitaxial and silicon-on-insulator wafers. The company was founded on July 30, 1999 and is headquartered in Tokyo, Japan.

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