Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Short Interest Down 45.2% in August

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 80,791 shares, a decline of 45.2% from the August 15th total of 147,311 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 1,078,049 shares, the days-to-cover ratio is currently 0.1 days.

Sumitomo Electric Industries Trading Down 9.3%

SMTOY stock opened at $6.25 on Tuesday. The firm has a 50-day moving average price of $7.04 and a 200-day moving average price of $45.77. Sumitomo Electric Industries has a 12 month low of $3.50 and a 12 month high of $11.14. The stock has a market capitalization of $39.70 billion, a P/E ratio of 14.88 and a beta of 1.04.

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

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a Japan-based manufacturer of electrical and electronic products serving the automotive, telecommunications, energy, industrial and electronics markets. The company develops and supplies products including automotive wire harnesses and components, electric wires and cables, optical fiber and related communications equipment, and electronic materials.

Its other businesses include power transmission and distribution products, energy-storage and energy-management systems, semiconductor and electronic components, industrial materials, cutting tools and sintered products.