Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Down 70.6% in June

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 8,375 shares, a decrease of 70.6% from the June 15th total of 28,477 shares. Based on an average trading volume of 156,143 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Sumitomo Trading Up 1.0%

Sumitomo stock traded up $0.10 during mid-day trading on Tuesday, hitting $9.71. The stock had a trading volume of 287,727 shares, compared to its average volume of 388,878. The stock has a 50-day simple moving average of $41.08 and a two-hundred day simple moving average of $39.31. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $46.42 billion, a PE ratio of 11.73, a P/E/G ratio of 1.50 and a beta of 0.58. Sumitomo has a 12 month low of $6.00 and a 12 month high of $12.21.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings data on Friday, May 1st. The conglomerate reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. The firm had revenue of $12.48 billion during the quarter, compared to analysts’ expectations of $14.01 billion. Sumitomo had a return on equity of 12.21% and a net margin of 8.19%. As a group, sell-side analysts forecast that Sumitomo will post 0.85 EPS for the current year.

About Sumitomo

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.