Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Short Interest Down 45.2% in August

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 80,791 shares, a decrease of 45.2% from the August 15th total of 147,311 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,078,049 shares, the short-interest ratio is currently 0.1 days.

Sumitomo Electric Industries Stock Down 9.3%

SMTOY stock opened at $6.25 on Tuesday. Sumitomo Electric Industries has a 12 month low of $3.50 and a 12 month high of $11.14. The firm has a market cap of $39.70 billion, a P/E ratio of 14.88 and a beta of 1.04. The company’s 50-day moving average price is $7.04 and its two-hundred day moving average price is $45.77.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $7.75 billion.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a Japan-based manufacturer of electrical and electronic products serving the automotive, telecommunications, energy, industrial and electronics markets. The company develops and supplies products including automotive wire harnesses and components, electric wires and cables, optical fiber and related communications equipment, and electronic materials.

Its other businesses include power transmission and distribution products, energy-storage and energy-management systems, semiconductor and electronic components, industrial materials, cutting tools and sintered products.