Itochu (OTCMKTS:ITOCY) Shares Cross Below 200-Day Moving Average – What’s Next?

Itochu Corp. (OTCMKTS:ITOCY) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $73.20 and traded as low as $12.43. Itochu shares last traded at $12.75, with a volume of 670,352 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Nomura raised Itochu to a “strong-buy” rating in a research report on Wednesday, February 25th. Zacks Research raised Itochu to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group began coverage on shares of Itochu in a research note on Tuesday, January 6th. They issued a “buy” rating on the stock. Finally, Daiwa Securities Group raised shares of Itochu to a “strong-buy” rating in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Itochu Stock Up 2.1%

The stock has a market cap of $101.04 billion, a PE ratio of 13.56 and a beta of 0.67. The business has a 50 day moving average of $13.34 and a 200-day moving average of $73.20. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ITOCY. Salomon & Ludwin LLC raised its holdings in shares of Itochu by 1,370.6% in the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after buying an additional 233 shares during the last quarter. OLD National Bancorp IN acquired a new position in Itochu in the 4th quarter valued at about $201,000. GAMMA Investing LLC raised its stake in Itochu by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after acquiring an additional 421 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Itochu during the 4th quarter worth approximately $279,000. Finally, Confluence Investment Management LLC grew its stake in shares of Itochu by 8.6% in the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock valued at $1,080,000 after purchasing an additional 745 shares during the last quarter. 0.08% of the stock is currently owned by institutional investors and hedge funds.

About Itochu

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.