Sumitomo Chemcl (OTCMKTS:SOMMY) Shares Up 8.1% – Here’s What Happened

Sumitomo Chemcl (OTCMKTS:SOMMY)’s stock price rose 8.1% on Thursday . The company traded as high as $20.00 and last traded at $20.00. Approximately 384 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,016 shares. The stock had previously closed at $18.50.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sumitomo Chemcl to a “hold” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Sumitomo Chemcl Price Performance

The company’s 50-day simple moving average is $16.53 and its 200-day simple moving average is $16.81. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 9.48 and a beta of 0.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.51 and a quick ratio of 0.91.

About Sumitomo Chemcl

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.