ITOCHU Co. (OTCMKTS:ITOCY) Sees Large Increase in Short Interest

ITOCHU Co. (OTCMKTS:ITOCY) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 9,800 shares, a growth of 46.3% from the August 15th total of 6,700 shares. Based on an average daily volume of 77,700 shares, the days-to-cover ratio is currently 0.1 days.

ITOCHU Trading Down 1.2 %

Shares of ITOCY stock traded down $1.23 during mid-day trading on Friday, reaching $103.85. 39,323 shares of the stock traded hands, compared to its average volume of 39,216. The stock’s fifty day simple moving average is $99.30 and its two-hundred day simple moving average is $93.77. ITOCHU has a 1-year low of $68.15 and a 1-year high of $108.26. The company has a quick ratio of 0.98, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The company has a market cap of $74.71 billion, a price-to-earnings ratio of 14.27 and a beta of 0.76.

ITOCHU (OTCMKTS:ITOCY) last posted its earnings results on Monday, August 5th. The company reported $1.84 EPS for the quarter. ITOCHU had a net margin of 5.56% and a return on equity of 13.09%. The business had revenue of $23.09 billion for the quarter. On average, research analysts anticipate that ITOCHU will post 8.29 EPS for the current fiscal year.

Hedge Funds Weigh In On ITOCHU

A number of hedge funds have recently modified their holdings of ITOCY. Confluence Investment Management LLC bought a new position in ITOCHU during the 1st quarter worth $718,000. GAMMA Investing LLC raised its position in shares of ITOCHU by 17.1% during the first quarter. GAMMA Investing LLC now owns 995 shares of the company’s stock worth $85,000 after acquiring an additional 145 shares during the last quarter. Atlas Capital Advisors LLC lifted its stake in shares of ITOCHU by 13.1% in the first quarter. Atlas Capital Advisors LLC now owns 2,328 shares of the company’s stock worth $199,000 after acquiring an additional 270 shares during the period. First Horizon Advisors Inc. bought a new stake in ITOCHU in the second quarter valued at approximately $28,000. Finally, Rhumbline Advisers increased its position in ITOCHU by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 11,001 shares of the company’s stock valued at $1,082,000 after purchasing an additional 535 shares during the period. Institutional investors and hedge funds own 0.08% of the company’s stock.

About ITOCHU

ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company's Textile segment produces and sells fiber and garment materials, textiles fabrics, apparel, and industrial materials; and imports lifestyle brands, fashion accessories, and garments in various areas, such as luxury, casual, and sports.