Sumitomo Corp. (OTCMKTS:SSUMY) Stock Short Interest Drops 40.0%

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 101,462 shares, a drop of 40.0% from the September 15th total of 168,989 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 477,285 shares, the days-to-cover ratio is currently 0.2 days.

Sumitomo Stock Down 0.3%

Sumitomo stock opened at $10.98 on Friday. 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 12-month low of $7.14 and a 12-month high of $12.45. The firm’s fifty day moving average is $11.28 and its 200 day moving average is $26.08. The company has a market capitalization of $52.49 billion, a PE ratio of 13.23, a PEG ratio of 0.95 and a beta of 0.60.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.58). The company had revenue of $12.24 billion during the quarter, compared to analyst estimates of $11.50 billion. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. As a group, sell-side analysts predict that Sumitomo will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

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

Sumitomo Company Profile

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.