Sumitomo Corp. (OTCMKTS:SSUMY) Stock Short Interest Climbs 98.1%

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 168,989 shares, a growth of 98.1% from the August 31st total of 85,305 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 396,449 shares, the short-interest ratio is presently 0.4 days.

Sumitomo Trading Down 0.4%

OTCMKTS SSUMY opened at $11.23 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Sumitomo has a twelve month low of $7.14 and a twelve month high of $12.45. The firm has a market capitalization of $53.71 billion, a PE ratio of 13.50, a P/E/G ratio of 0.98 and a beta of 0.58. The stock’s 50 day moving average is $11.12 and its 200 day moving average is $28.02.

Sumitomo (OTCMKTS:SSUMY) last issued its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.58). The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. Research analysts forecast that Sumitomo will post 1.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Sumitomo has an average rating of “Strong Buy”.

About Sumitomo

Sumitomo Corporation is a Japan-based global trading and business investment company. It operates across a broad range of industries, including metal products, transportation and construction systems, infrastructure, media and digital services, and lifestyle-related businesses.

The company is involved in the development, financing, and operation of infrastructure projects, as well as the trading and distribution of steel, nonferrous metals, energy, chemical products, food, and consumer goods.