Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Down 70.6% in June

Sumitomo Corp. (OTCMKTS:SSUMY) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 8,375 shares, a drop of 70.6% from the June 15th total of 28,477 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 156,143 shares, the days-to-cover ratio is presently 0.1 days.

Sumitomo Stock Performance

OTCMKTS SSUMY traded down $0.02 during trading hours on Friday, hitting $9.69. 103,882 shares of the company’s stock traded hands, compared to its average volume of 272,554. Sumitomo has a 52 week low of $6.00 and a 52 week high of $12.21. The firm has a market capitalization of $46.32 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average price is $41.63 and its two-hundred day moving average price is $39.46.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, May 1st. The conglomerate reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. Sumitomo had a net margin of 8.19% and a return on equity of 12.21%. The business had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $14.01 billion. Equities research analysts predict that Sumitomo will post 0.85 EPS for the current year.

Sumitomo Company Profile

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.