Short Interest in Sumitomo Corp. (OTCMKTS:SSUMY) Decreases By 47.3%

Sumitomo Corp. (OTCMKTS:SSUMY) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 114,456 shares, a decrease of 47.3% from the July 30th total of 217,365 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 421,428 shares, the short-interest ratio is presently 0.3 days.

Sumitomo Trading Up 0.6%

OTCMKTS SSUMY opened at $11.16 on Tuesday. Sumitomo has a 52 week low of $6.97 and a 52 week high of $12.21. The stock has a market capitalization of $53.35 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.69 and a beta of 0.58. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $17.85 and a two-hundred day moving average of $32.51.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.58). The company had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. As a group, research analysts expect that Sumitomo will post 2.1 EPS for the current fiscal 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.