Sumitomo Heavy (OTCMKTS:SOHVY) Stock Price Down 8.8% – Here’s Why

Sumitomo Heavy (OTCMKTS:SOHVY) shares dropped 8.8% during mid-day trading on Friday. The stock traded as low as $7.63 and last traded at $7.63. 562 shares traded hands during trading, a decline of 49% from the average daily volume of 1,093 shares. The stock had previously closed at $8.3650.

Sumitomo Heavy Stock Performance

The firm has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $8.63. The company has a current ratio of 1.94, a quick ratio of 1.12 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 14.13 and a beta of 0.47.

Sumitomo Heavy (OTCMKTS:SOHVY) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.19 EPS for the quarter. Sumitomo Heavy had a return on equity of 6.91% and a net margin of 3.45%. The company had revenue of $1.76 billion during the quarter.

Sumitomo Heavy Company Profile

Sumitomo Heavy Industries, Ltd. is a Japanese manufacturer of industrial machinery and equipment. Its products include plastic injection molding machines, precision gearboxes and motion-control systems, construction machinery such as excavators, and equipment for industrial production and energy applications. The company traces its roots to a machinery repair shop established in 1888 to serve the Besshi copper mine. It has since expanded into a broad range of machinery and technology businesses, including industrial presses, material-handling systems, and equipment used in semiconductor manufacturing and medical applications.