Sumitomo Co. (OTCMKTS:SSUMY) Sees Significant Growth in Short Interest

Sumitomo Co. (OTCMKTS:SSUMY) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 37,900 shares, a growth of 109.4% from the September 15th total of 18,100 shares. Based on an average trading volume of 110,000 shares, the days-to-cover ratio is presently 0.3 days.

Sumitomo Stock Down 0.1 %

OTCMKTS SSUMY traded down $0.02 during trading on Friday, hitting $22.51. The stock had a trading volume of 49,370 shares, compared to its average volume of 59,457. The company’s 50-day moving average price is $22.66 and its two-hundred day moving average price is $24.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.65. Sumitomo has a 12 month low of $19.00 and a 12 month high of $28.90. The company has a market capitalization of $27.26 billion, a PE ratio of 11.48, a P/E/G ratio of 0.58 and a beta of 0.70.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.64 earnings per share (EPS) for the quarter. The firm had revenue of $11.01 billion during the quarter. Sumitomo had a net margin of 5.46% and a return on equity of 8.11%. As a group, sell-side analysts forecast that Sumitomo will post 3.05 EPS for the current year.

About Sumitomo

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.