Short Interest in Sumitomo Corp. (OTCMKTS:SSUMY) Expands By 38.8%

Sumitomo Corp. (OTCMKTS:SSUMY) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 78,859 shares, an increase of 38.8% from the November 30th total of 56,798 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 192,193 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 192,193 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Sumitomo presently has an average rating of “Strong Buy”.

Sumitomo Trading Down 0.9%

OTCMKTS:SSUMY opened at $34.41 on Thursday. Sumitomo has a 12 month low of $19.18 and a 12 month high of $35.89. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $31.99 and its 200 day moving average is $29.08. The stock has a market capitalization of $41.69 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49.

Sumitomo (OTCMKTS:SSUMY) last released its earnings results on Friday, October 31st. The conglomerate reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The firm had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.60 billion. Sumitomo had a return on equity of 12.31% and a net margin of 8.34%. Sell-side analysts expect that Sumitomo will post 2.82 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.