Sumitomo Corp. (OTCMKTS:SSUMY) Sees Large Growth in Short Interest

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 20,132 shares, a growth of 140.4% from the June 30th total of 8,375 shares. Based on an average trading volume of 531,661 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Sumitomo Trading Down 0.4%

OTCMKTS:SSUMY opened at $9.78 on Tuesday. The firm has a market cap of $46.75 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.87 and a beta of 0.58. The stock has a fifty day moving average price of $33.72 and a 200 day moving average price of $37.53. Sumitomo has a 12-month low of $6.38 and a 12-month high of $12.21. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Sumitomo (OTCMKTS:SSUMY) last released its earnings results on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, topping the consensus estimate of $0.90 by $0.12. The firm had revenue of $12.48 billion during the quarter, compared to analysts’ expectations of $14.01 billion. Sumitomo had a return on equity of 12.21% and a net margin of 8.19%. Sell-side analysts anticipate that Sumitomo will post 1.47 earnings per share for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.