Sumitomo Corp. (OTCMKTS:SSUMY) Sees Large Increase in Short Interest

Sumitomo Corp. (OTCMKTS:SSUMY) saw a significant growth in short interest in April. As of April 30th, there was short interest totaling 142,866 shares, a growth of 524.4% from the April 15th total of 22,880 shares. Based on an average trading volume of 204,992 shares, the short-interest ratio is presently 0.7 days. Currently, 0.0% of the company’s stock are sold short.

Sumitomo Stock Down 1.5%

SSUMY stock traded down $0.75 during midday trading on Thursday, hitting $47.95. The company’s stock had a trading volume of 66,366 shares, compared to its average volume of 100,519. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 0.89. Sumitomo has a twelve month low of $24.00 and a twelve month high of $48.85. The company’s fifty day moving average price is $38.44 and its 200 day moving average price is $36.70. The stock has a market capitalization of $57.31 billion, a P/E ratio of 14.49, a PEG ratio of 1.79 and a beta of 0.51.

Sumitomo (OTCMKTS:SSUMY) last issued its quarterly earnings results on Friday, May 1st. The conglomerate reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.12. Sumitomo had a net margin of 8.19% and a return on equity of 12.04%. The firm had revenue of $12.48 billion for the quarter, compared to analyst estimates of $14.01 billion. As a group, equities research analysts predict that Sumitomo will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Sumitomo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Sumitomo Company Profile

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.