Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Sees Large Decline in Short Interest

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 14,500 shares, a decrease of 24.5% from the May 31st total of 19,200 shares. Based on an average daily volume of 20,000 shares, the days-to-cover ratio is presently 0.7 days.

Sumitomo Electric Industries Price Performance

Shares of OTCMKTS SMTOY traded up $0.09 on Friday, reaching $15.58. 5,273 shares of the company’s stock traded hands, compared to its average volume of 11,082. The business’s 50 day simple moving average is $15.74 and its two-hundred day simple moving average is $14.66. Sumitomo Electric Industries has a 12 month low of $10.24 and a 12 month high of $17.60.

Sumitomo Electric Industries Company Profile

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.