Short Interest in Sumitomo Corp. (OTCMKTS:SSUMY) Decreases By 83.2%

Sumitomo Corp. (OTCMKTS:SSUMY) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 28,477 shares, a drop of 83.2% from the May 31st total of 169,434 shares. Based on an average daily volume of 168,570 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are short sold.

Sumitomo Trading Down 2.9%

OTCMKTS SSUMY opened at $37.67 on Friday. 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 business has a fifty day simple moving average of $41.80 and a 200 day simple moving average of $39.32. Sumitomo has a 12 month low of $24.01 and a 12 month high of $48.85. The firm has a market capitalization of $45.02 billion, a P/E ratio of 11.38, a PEG ratio of 1.46 and a beta of 0.55.

Sumitomo (OTCMKTS:SSUMY) last posted its earnings results on Friday, May 1st. The conglomerate reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.12. Sumitomo had a net margin of 8.19% and a return on equity of 12.21%. The firm had revenue of $12.48 billion during the quarter, compared to analyst estimates of $14.01 billion. On average, analysts predict that Sumitomo will post 3.47 EPS for the current fiscal year.

Sumitomo Company Profile

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.