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

Itochu Corp. (OTCMKTS:ITOCY) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 71,229 shares, a drop of 85.2% from the May 31st total of 479,668 shares. Based on an average daily trading volume, of 1,013,167 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Itochu Price Performance

Shares of Itochu stock traded up $0.28 during trading hours on Friday, reaching $11.35. The company’s stock had a trading volume of 435,048 shares, compared to its average volume of 542,675. The firm has a 50 day moving average price of $12.06 and a 200-day moving average price of $29.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.99. The stock has a market cap of $89.94 billion, a P/E ratio of 12.75 and a beta of 0.62. Itochu has a one year low of $10.08 and a one year high of $15.10.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $24.49 billion during the quarter, compared to the consensus estimate of $28.52 billion. On average, analysts predict that Itochu will post 0.86 EPS for the current year.

Institutional Investors Weigh In On Itochu

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Itochu by 21.8% in the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after purchasing an additional 516 shares during the period. Confluence Investment Management LLC raised its holdings in Itochu by 4.8% during the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after buying an additional 446 shares during the period. OLD National Bancorp IN bought a new stake in Itochu in the fourth quarter worth $201,000. Atlas Capital Advisors Inc. bought a new stake in Itochu in the fourth quarter worth $279,000. Finally, Aristotle Capital Management LLC purchased a new position in Itochu during the fourth quarter worth $1,487,000. 0.08% of the stock is owned by institutional investors.

About Itochu

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.