Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Up 979.7% in July

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 217,365 shares, an increase of 979.7% from the July 15th total of 20,132 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 667,539 shares, the days-to-cover ratio is presently 0.3 days.

Sumitomo Trading Up 0.4%

Shares of SSUMY traded up $0.04 on Tuesday, hitting $11.23. 198,329 shares of the stock traded hands, compared to its average volume of 379,807. Sumitomo has a 1 year low of $6.55 and a 1 year high of $12.21. The stock’s 50 day moving average is $26.21 and its two-hundred day moving average is $35.40. The firm has a market capitalization of $53.68 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.02 and a beta of 0.58. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.68.

Sumitomo (OTCMKTS:SSUMY) last issued its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.58). The business had revenue of $12.24 billion during the quarter, compared to analyst estimates of $11.50 billion. Sumitomo had a net margin of 8.23% and a return on equity of 12.39%. As a group, sell-side analysts predict that Sumitomo will post 1.47 earnings per share 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.