Short Interest in Sumitomo Corp. (OTCMKTS:SSUMY) Increases By 17.0%

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 103,392 shares, an increase of 17.0% from the February 12th total of 88,407 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 188,156 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 188,156 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Sumitomo Price Performance

Shares of SSUMY opened at $36.70 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.26. The company has a 50 day moving average price of $39.68 and a 200-day moving average price of $34.11. 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 $44.16 billion, a PE ratio of 11.92, a PEG ratio of 1.35 and a beta of 0.46.

Sumitomo (OTCMKTS:SSUMY) last issued its quarterly earnings data on Wednesday, February 4th. The conglomerate reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.20). The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.72 billion. Sumitomo had a net margin of 7.56% and a return on equity of 11.27%. Equities analysts predict that Sumitomo will post 2.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Sumitomo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

About Sumitomo

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.