Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Up 91.9% in January

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 88,734 shares, an increase of 91.9% from the January 15th total of 46,250 shares. Based on an average daily volume of 211,566 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the company’s stock are sold short. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 211,566 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Sumitomo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Sumitomo currently has a consensus rating of “Buy”.

Sumitomo Stock Up 0.8%

OTCMKTS:SSUMY opened at $43.99 on Friday. The company’s 50-day simple moving average is $37.49 and its 200-day simple moving average is $32.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57. Sumitomo has a fifty-two week low of $19.18 and a fifty-two week high of $44.15. The stock has a market capitalization of $52.93 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.64 and a beta of 0.47.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings data on Wednesday, February 4th. The conglomerate reported $0.58 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.20). The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.72 billion. Sumitomo had a return on equity of 11.00% and a net margin of 7.56%. On average, equities analysts anticipate that Sumitomo will post 2.82 earnings per share for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.