Short Interest in Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Decreases By 45.2%

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 80,791 shares, a drop of 45.2% from the August 15th total of 147,311 shares. Based on an average daily trading volume, of 1,078,049 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Sumitomo Electric Industries Price Performance

Sumitomo Electric Industries stock traded up $0.01 during midday trading on Thursday, reaching $6.65. 161,176 shares of the company traded hands, compared to its average volume of 715,480. The firm has a market capitalization of $42.27 billion, a price-to-earnings ratio of 15.84 and a beta of 1.04. The business has a 50 day moving average of $7.01 and a two-hundred day moving average of $44.91. Sumitomo Electric Industries has a 12 month low of $3.50 and a 12 month high of $11.14.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last released its quarterly earnings results on Friday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $7.75 billion.

Sumitomo Electric Industries Company Profile

Sumitomo Electric Industries, Ltd. is a Japan-based manufacturer of electrical and electronic products serving the automotive, telecommunications, energy, industrial and electronics markets. The company develops and supplies products including automotive wire harnesses and components, electric wires and cables, optical fiber and related communications equipment, and electronic materials.

Its other businesses include power transmission and distribution products, energy-storage and energy-management systems, semiconductor and electronic components, industrial materials, cutting tools and sintered products.