Sumitomo Corp. (OTCMKTS:SSUMY) Sees Large Decline in Short Interest

Sumitomo Corp. (OTCMKTS:SSUMY) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 46,250 shares, a decline of 37.0% from the December 31st total of 73,365 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 184,139 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 184,139 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the company’s shares are short sold.

Sumitomo Stock Performance

Shares of SSUMY stock opened at $40.63 on Friday. The firm has a 50 day moving average of $35.48 and a two-hundred day moving average of $31.03. The stock has a market capitalization of $48.89 billion, a PE ratio of 11.99, a P/E/G ratio of 1.60 and a beta of 0.47. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.50. Sumitomo has a 52 week low of $19.18 and a 52 week high of $42.52.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.13). The company had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.31%. On average, research analysts predict that Sumitomo will post 2.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Sumitomo from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate 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.