Itochu Corp. (OTCMKTS:ITOCY) Sees Significant Decline in Short Interest

Itochu Corp. (OTCMKTS:ITOCY) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 9,671 shares, a drop of 67.7% from the November 30th total of 29,951 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 59,074 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 59,074 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Trading of Itochu

A number of hedge funds and other institutional investors have recently bought and sold shares of ITOCY. Salomon & Ludwin LLC increased its stake in Itochu by 1,370.6% in the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Itochu by 8.6% in the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock valued at $1,080,000 after buying an additional 745 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Itochu by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after buying an additional 421 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Itochu by 38.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after acquiring an additional 125 shares in the last quarter. 0.08% of the stock is currently owned by institutional investors and hedge funds.

Itochu Stock Up 0.5%

Shares of ITOCY stock traded up $0.67 during trading hours on Friday, reaching $122.95. 7,255 shares of the stock were exchanged, compared to its average volume of 50,387. The business’s fifty day moving average is $119.09 and its two-hundred day moving average is $112.63. The firm has a market capitalization of $88.46 billion, a P/E ratio of 13.21 and a beta of 0.71. Itochu has a 12-month low of $79.12 and a 12-month high of $127.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96.

Itochu (OTCMKTS:ITOCY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.10). The company had revenue of $24.06 billion for the quarter, compared to the consensus estimate of $24.65 billion.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.