Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Sees Significant Growth in Short Interest

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 402,806 shares, a growth of 104.4% from the September 30th total of 197,025 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 1,024,476 shares, the short-interest ratio is currently 0.4 days.

Sumitomo Electric Industries Price Performance

Sumitomo Electric Industries stock opened at $5.45 on Friday. The company’s fifty day moving average price is $6.78 and its two-hundred day moving average price is $39.74. Sumitomo Electric Industries has a one year low of $4.50 and a one year high of $11.14. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 12.98 and a beta of 1.06.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last posted its earnings results on Friday, October 30th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $9.12 billion during the quarter, compared to analyst estimates of $8.43 billion.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a Japan-based diversified manufacturer that develops and supplies products used in the automotive, information and communications, electronics, energy, and industrial materials sectors. The company traces its origins to 1897, when it began manufacturing copper wire, and has expanded into a global technology and materials business.

Its automotive products include wiring harnesses, connectors, and related electrical components. In the information and communications field, Sumitomo Electric provides optical fiber, fiber-optic cables, network equipment, and other technologies used in telecommunications infrastructure.