Sumitomo Chemcl (OTCMKTS:SOMMY) Shares Gap Up – Still a Buy?

Sumitomo Chemcl (OTCMKTS:SOMMY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.4750, but opened at $18.50. Sumitomo Chemcl shares last traded at $18.50, with a volume of 601 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Sumitomo Chemcl to a “hold” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Sumitomo Chemcl presently has a consensus rating of “Hold”.

Sumitomo Chemcl Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 1.51. The company has a market cap of $6.15 billion, a PE ratio of 8.77 and a beta of 0.34. The company’s 50 day moving average price is $16.41 and its 200-day moving average price is $16.81.

Sumitomo Chemcl Company Profile

Sumitomo Chemical Co, Ltd. is a diversified chemical company headquartered in Tokyo, Japan. Established in 1913 as part of the historic Sumitomo Group, the company has grown into a global industry leader, operating across multiple chemical and material science industries. It is listed in Japan’s premier equity markets and is available to U.S. investors via its American depositary receipts trading under the ticker SOMMY on the OTCMKTS exchange.

The company’s operations are organized into several core business segments, including petrochemicals, energy and functional materials, IT‐related chemicals, living materials, and health & crop sciences.