ITOCHU (OTCMKTS:ITOCY) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of ITOCHU Co. (OTCMKTS:ITOCY) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $99.91 and traded as high as $100.37. ITOCHU shares last traded at $99.79, with a volume of 29,983 shares traded.

ITOCHU Stock Up 1.3 %

The firm has a fifty day moving average price of $99.94 and a 200 day moving average price of $100.41. The firm has a market capitalization of $71.80 billion, a price-to-earnings ratio of 13.49 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.98 and a current ratio of 1.31.

Institutional Investors Weigh In On ITOCHU

An institutional investor recently raised its position in ITOCHU stock. GAMMA Investing LLC boosted its holdings in shares of ITOCHU Co. (OTCMKTS:ITOCY) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,463 shares of the company’s stock after acquiring an additional 332 shares during the period. GAMMA Investing LLC’s holdings in ITOCHU were worth $157,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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 raw materials, threads, and textiles; and garments, home furnishings, and industrial materials, as well as trades in industrial textile and lifestyle products. Its Machinery segment engages in the plants, bridges, railways, and other infrastructure; power generation, transmission, transformation, and sale; water, environment and waste-related; ship trading; renewable and alternative energy; and waste recycling businesses.