Sumitomo Co. (OTCMKTS:SSUMY) Sees Large Decrease in Short Interest

Sumitomo Co. (OTCMKTS:SSUMY) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 4,900 shares, a decrease of 68.6% from the June 30th total of 15,600 shares. Based on an average daily trading volume, of 78,600 shares, the days-to-cover ratio is presently 0.1 days.

Sumitomo Price Performance

Sumitomo stock traded up $0.37 during mid-day trading on Friday, reaching $25.00. 19,946 shares of the company were exchanged, compared to its average volume of 33,382. The company has a fifty day simple moving average of $25.45 and a 200-day simple moving average of $24.63. The firm has a market cap of $30.55 billion, a PE ratio of 11.96, a PEG ratio of 0.50 and a beta of 0.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.63 and a quick ratio of 1.18. Sumitomo has a 12 month low of $18.51 and a 12 month high of $28.90.

Sumitomo (OTCMKTS:SSUMY) last issued its quarterly earnings results on Thursday, May 2nd. The conglomerate reported ($0.25) EPS for the quarter. Sumitomo had a return on equity of 8.68% and a net margin of 5.66%. The company had revenue of $9.85 billion during the quarter. As a group, equities research analysts expect that Sumitomo will post 2.9 earnings per share for the current fiscal year.

Sumitomo Company Profile

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.