Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Down – Time to Sell?

Shares of Sumitomo Heavy (OTCMKTS:SOHVY) gapped down prior to trading on Thursday. The stock had previously closed at $9.63, but opened at $8.53. Sumitomo Heavy shares last traded at $8.53, with a volume of 183 shares trading hands.

Sumitomo Heavy Trading Down 11.4%

The business has a 50 day moving average of $9.31 and a 200-day moving average of $8.60. The company has a current ratio of 1.94, a quick ratio of 1.12 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $4.10 billion, a P/E ratio of 15.23 and a beta of 0.42.

Sumitomo Heavy (OTCMKTS:SOHVY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter. Sumitomo Heavy had a return on equity of 6.18% and a net margin of 3.59%. The firm had revenue of $1.87 billion during the quarter.

About Sumitomo Heavy

Sumitomo Heavy Industries, Ltd. is a Japanese industrial manufacturing company that develops and supplies machinery and equipment for a range of commercial and industrial applications. Its businesses include power-transmission and control systems, industrial machinery, logistics and material-handling equipment, construction machinery, energy-related systems, and mechatronics products.

The company also provides equipment and technologies used in semiconductor manufacturing, plastics processing, precision machinery, and other specialized production processes.