Sumitomo Chemcl (OTCMKTS:SOMMY) Shares Down 10.3% – Here’s What Happened

Sumitomo Chemcl (OTCMKTS:SOMMY)’s stock price dropped 10.3% on Wednesday . The stock traded as low as $17.95 and last traded at $17.95. 227 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,987 shares. The stock had previously closed at $20.00.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sumitomo Chemcl to a “hold” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sumitomo Chemcl Price Performance

The firm has a 50-day simple moving average of $16.96 and a two-hundred day simple moving average of $16.85. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 9.20 and a beta of 0.37. The company has a current ratio of 1.50, a quick ratio of 0.91 and a debt-to-equity ratio of 0.60.

Sumitomo Chemcl Company Profile

Sumitomo Chemical Co, Ltd. is a Japan-based diversified chemical company that develops and manufactures products for a broad range of industries. Its businesses include petrochemicals and plastics, synthetic resins, industrial chemicals, coatings, and functional materials used in manufacturing and consumer applications.

The company also supplies materials for information and communications technology, including semiconductor-related and display materials, as well as agricultural chemicals, crop protection products, and household insect-control products.