Short Interest in Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Grows By 37.2%

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 12,900 shares, a growth of 37.2% from the August 15th total of 9,400 shares. Based on an average daily trading volume, of 19,400 shares, the days-to-cover ratio is presently 0.7 days.

Sumitomo Electric Industries Stock Performance

SMTOY traded down $0.13 during trading on Monday, hitting $15.99. The stock had a trading volume of 10,700 shares, compared to its average volume of 12,224. Sumitomo Electric Industries has a twelve month low of $10.24 and a twelve month high of $17.60. The company’s 50-day moving average price is $15.47 and its 200 day moving average price is $15.52.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates through Automotive, Infocommunications, Electronics, Environment and Energy, and Industrial Materials and Others segments. The company offers wiring harnesses and electrical components; steel cords for tire reinforcement; steel wires for springs; wiring materials; optical lenses for infrared devices; abrasion-resistant parts/materials; heat shrink and heat-resistant tubing/tapes; magnet and aluminum bars/wires; products for electronic devices; sintered parts; and EV quick-charger connector assemblies.