Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Itochu Corp. (OTCMKTS:ITOCY) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 405,036 shares, a growth of 3,686.8% from the April 15th total of 10,696 shares. Based on an average trading volume of 882,591 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts recently commented on ITOCY shares. Zacks Research raised Itochu to a “hold” rating in a research note on Monday, January 12th. Daiwa Securities Group raised Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Nomura raised Itochu to a “strong-buy” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Itochu Stock Performance

Shares of Itochu stock opened at $12.65 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $100.24 billion, a P/E ratio of 14.21 and a beta of 0.65. The business has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $53.89. Itochu has a 12 month low of $9.98 and a 12 month high of $15.10.

Itochu (OTCMKTS:ITOCY) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $24.49 billion for the quarter, compared to the consensus estimate of $28.52 billion. On average, equities analysts forecast that Itochu will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Itochu

Several institutional investors and hedge funds have recently modified their holdings of ITOCY. GAMMA Investing LLC increased its holdings in shares of Itochu by 21.8% during the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $364,000 after acquiring an additional 516 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Itochu by 4.8% during the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after acquiring an additional 446 shares in the last quarter. OLD National Bancorp IN bought a new position in shares of Itochu during the fourth quarter valued at $201,000. Atlas Capital Advisors Inc. bought a new position in shares of Itochu during the fourth quarter valued at $279,000. Finally, Aristotle Capital Management LLC bought a new position in shares of Itochu during the fourth quarter valued at $1,487,000. 0.08% of the stock is currently owned by institutional investors.

About Itochu

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.