Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Up – Here’s Why

Sumitomo Heavy (OTCMKTS:SOHVY) shares gapped up prior to trading on Monday. The stock had previously closed at $8.18, but opened at $8.73. Sumitomo Heavy shares last traded at $8.7080, with a volume of 803 shares changing hands.

Sumitomo Heavy Trading Up 6.5%

The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 16.13 and a beta of 0.47. The company has a 50-day moving average price of $9.14 and a 200 day moving average price of $8.59. The company has a quick ratio of 1.12, a current ratio of 1.94 and a debt-to-equity ratio of 0.18.

Sumitomo Heavy (OTCMKTS:SOHVY) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $1.76 billion for the quarter. Sumitomo Heavy had a return on equity of 6.91% and a net margin of 3.45%.

About Sumitomo Heavy

Sumitomo Heavy Industries, Ltd. is a Japanese industrial manufacturer headquartered in Tokyo. The company traces its origins to a machinery-repair business established by the Sumitomo group in 1888 and has developed into a diversified supplier of equipment and systems for industrial customers worldwide.

Its products and services include power-transmission equipment, gearboxes, precision machinery, industrial robots, injection-molding machines, presses, semiconductor manufacturing equipment, laser-processing systems, and material-handling and logistics systems.