Sumitomo Electric Industries (OTCMKTS:SMTOY) Shares Gap Up – Time to Buy?

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $5.76, but opened at $6.10. Sumitomo Electric Industries shares last traded at $5.8925, with a volume of 294,387 shares.

Sumitomo Electric Industries Stock Up 3.8%

The firm has a market cap of $37.98 billion, a PE ratio of 14.24 and a beta of 1.06. The firm has a 50 day moving average of $6.85 and a 200 day moving average of $40.27.

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

Sumitomo Electric Industries Company Profile

Sumitomo Electric Industries, Ltd. is a Japan-based diversified manufacturer that develops and supplies products used in the automotive, information and communications, electronics, energy, and industrial materials sectors. The company traces its origins to 1897, when it began manufacturing copper wire, and has expanded into a global technology and materials business.

Its automotive products include wiring harnesses, connectors, and related electrical components. In the information and communications field, Sumitomo Electric provides optical fiber, fiber-optic cables, network equipment, and other technologies used in telecommunications infrastructure.