Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Update

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 90,900 shares, a drop of 27.7% from the September 30th total of 125,800 shares. Based on an average daily trading volume, of 156,100 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the company’s stock are short sold. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 156,100 shares, the days-to-cover ratio is currently 0.6 days.

Sumitomo Stock Down 3.7%

SSUMY opened at $29.14 on Monday. The stock’s fifty day simple moving average is $29.37 and its 200 day simple moving average is $26.91. Sumitomo has a 1-year low of $19.18 and a 1-year high of $31.11. The stock has a market cap of $35.30 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.56. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.54.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.13). The company had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.52%. As a group, research analysts expect that Sumitomo will post 2.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Sumitomo has an average rating of “Strong Buy”.

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.