Itochu (OTCMKTS:ITOCY) Shares Gap Down – What’s Next?

Shares of Itochu Corp. (OTCMKTS:ITOCY) gapped down before the market opened on Friday . The stock had previously closed at $113.34, but opened at $109.01. Itochu shares last traded at $114.00, with a volume of 1,658 shares changing hands.

Itochu Trading Up 0.8%

The firm has a market capitalization of $82.17 billion, a PE ratio of 14.91 and a beta of 0.75. The company’s 50-day simple moving average is $112.53 and its 200 day simple moving average is $104.63. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 0.44.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Friday, August 1st. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.25). The business had revenue of $23.65 billion for the quarter, compared to analyst estimates of $27.22 billion.

Hedge Funds Weigh In On Itochu

Several hedge funds have recently modified their holdings of ITOCY. GAMMA Investing LLC increased its holdings in shares of Itochu by 6,003.3% during the first quarter. GAMMA Investing LLC now owns 101,009 shares of the company’s stock valued at $9,395,000 after acquiring an additional 99,354 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Itochu by 38.0% during the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after acquiring an additional 125 shares in the last quarter. Finally, Confluence Investment Management LLC increased its holdings in shares of Itochu by 1.4% during the second quarter. Confluence Investment Management LLC now owns 8,636 shares of the company’s stock valued at $904,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 0.08% of the company’s stock.

Itochu Company Profile

ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company’s Textile segment produces and sells raw materials, threads, and textiles; and garments, home furnishings, and industrial materials, as well as trades in industrial textile and lifestyle products. Its Machinery segment engages in the plants, bridges, railways, and other infrastructure; power generation, transmission, transformation, and sale; water, environment and waste-related; ship trading; renewable and alternative energy; and waste recycling businesses.