Sumitomo Electric Industries (OTCMKTS:SMTOY) Shares Gap Up – Here’s What Happened

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $5.76, but opened at $6.10. Sumitomo Electric Industries shares last traded at $5.8925, with a volume of 294,387 shares trading hands.

Sumitomo Electric Industries Stock Performance

The business’s 50 day moving average is $6.82 and its 200 day moving average is $40.10. The stock has a market cap of $38.11 billion, a price-to-earnings ratio of 14.29 and a beta of 1.06.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last released its earnings results on Friday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $7.75 billion.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a Japan-based diversified manufacturer that develops and supplies products used in the automotive, information and communications, electronics, energy, and industrial materials sectors. The company traces its origins to 1897, when it began manufacturing copper wire, and has expanded into a global technology and materials business.

Its automotive products include wiring harnesses, connectors, and related electrical components. In the information and communications field, Sumitomo Electric provides optical fiber, fiber-optic cables, network equipment, and other technologies used in telecommunications infrastructure.