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

Shares of Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) gapped up prior to trading on Thursday. The stock had previously closed at $4.40, but opened at $4.7633. Sumitomo Electric Industries shares last traded at $4.83, with a volume of 196,230 shares changing hands.

Sumitomo Electric Industries Stock Performance

The stock’s 50 day moving average price is $6.43 and its 200 day moving average price is $38.25. The company has a market capitalization of $31.00 billion, a P/E ratio of 11.09 and a beta of 1.16.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $8.50 billion.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a Japanese manufacturer of electric wire and cable and a broad range of related products. Founded in 1897, the company traces its origins to copper-wire production and is headquartered in Osaka, Japan. Its businesses include automotive components such as wiring harnesses; information and communications products such as optical fiber and cables; power cables and other energy-related equipment; and industrial materials, including cutting tools and components made from advanced materials.