Sumitomo Co. (OTCMKTS:SSUMY) Sees Significant Increase in Short Interest

Sumitomo Co. (OTCMKTS:SSUMY) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 18,500 shares, a growth of 560.7% from the August 15th total of 2,800 shares. Based on an average daily trading volume, of 90,200 shares, the days-to-cover ratio is currently 0.2 days.

Sumitomo Stock Performance

Sumitomo stock traded up $0.11 on Thursday, hitting $22.47. The company’s stock had a trading volume of 193,272 shares, compared to its average volume of 46,027. The company has a fifty day moving average price of $23.70 and a 200-day moving average price of $24.62. Sumitomo has a one year low of $18.51 and a one year high of $28.90. The company has a quick ratio of 1.18, a current ratio of 1.63 and a debt-to-equity ratio of 0.55. The firm has a market cap of $27.46 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.45 and a beta of 0.71.

Sumitomo (OTCMKTS:SSUMY) last announced its earnings results on Wednesday, July 31st. The conglomerate reported $0.64 EPS for the quarter. The business had revenue of $11.01 billion for the quarter. Sumitomo had a return on equity of 8.04% and a net margin of 5.46%. On average, equities analysts anticipate that Sumitomo will post 2.9 earnings per share for the current year.

About Sumitomo

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.