Itochu (OTCMKTS:ITOCY) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Itochu Corp. (OTCMKTS:ITOCY)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $104.94 and traded as low as $12.70. Itochu shares last traded at $12.79, with a volume of 354,177 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ITOCY shares. The Goldman Sachs Group initiated coverage on shares of Itochu in a research note on Tuesday, January 6th. They set a “buy” rating for the company. Zacks Research upgraded shares of Itochu to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Itochu Stock Performance

The stock’s 50-day simple moving average is $91.00 and its 200-day simple moving average is $104.94. The stock has a market cap of $101.35 billion, a price-to-earnings ratio of 13.61 and a beta of 0.69. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.10). The firm had revenue of $24.06 billion for the quarter, compared to the consensus estimate of $24.65 billion.

Institutional Trading of Itochu

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after acquiring an additional 125 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Itochu by 1,370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Itochu by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after purchasing an additional 421 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Itochu by 4.8% in the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after purchasing an additional 446 shares during the last quarter. 0.08% of the stock is owned by institutional investors and hedge funds.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.