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

Itochu Corp. (OTCMKTS:ITOCY) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $69.14 and traded as low as $12.73. Itochu shares last traded at $13.31, with a volume of 248,018 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Itochu in a report on Tuesday, January 6th. They issued a “buy” rating for the company. Zacks Research raised Itochu to a “hold” rating in a research note on Monday, January 12th. Daiwa Securities Group raised Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Nomura raised Itochu to a “strong-buy” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy”.

Itochu Stock Up 4.1%

The stock has a market capitalization of $105.47 billion, a PE ratio of 14.16 and a beta of 0.70. The firm has a 50 day moving average of $13.35 and a two-hundred day moving average of $69.14. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Itochu

Hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its position in Itochu by 1,370.6% during the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after buying an additional 233 shares in the last quarter. OLD National Bancorp IN purchased a new position in Itochu during the fourth quarter worth $201,000. GAMMA Investing LLC increased its position in Itochu by 21.7% during the third quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock worth $272,000 after buying an additional 421 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in Itochu during the fourth quarter worth $279,000. Finally, Confluence Investment Management LLC increased its position in Itochu by 8.6% during the third quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock worth $1,080,000 after buying an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 0.08% of the company’s stock.

Itochu Company Profile

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.