Short Interest in Itochu Corp. (OTCMKTS:ITOCY) Increases By 3,686.8%

Itochu Corp. (OTCMKTS:ITOCYGet Free Report) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 405,036 shares, a growth of 3,686.8% from the April 15th total of 10,696 shares. Based on an average daily volume of 882,591 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.0% of the shares of the company are short sold.

Itochu Stock Performance

OTCMKTS:ITOCY traded down $0.20 during midday trading on Monday, reaching $12.65. 319,339 shares of the company traded hands, compared to its average volume of 461,577. The company has a fifty day moving average price of $12.85 and a 200 day moving average price of $55.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 14.21 and a beta of 0.65. Itochu has a twelve month low of $9.98 and a twelve month high of $15.10.

Itochu (OTCMKTS:ITOCYGet Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $24.49 billion for the quarter, compared to the consensus estimate of $28.52 billion. On average, analysts expect that Itochu will post 0.44 EPS for the current fiscal year.

Institutional Trading of Itochu

Several hedge funds have recently added to or reduced their stakes in the business. OLD National Bancorp IN raised its stake in Itochu by 898.1% during the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after acquiring an additional 13,993 shares in the last quarter. Aristotle Capital Management LLC bought a new stake in Itochu during the 4th quarter valued at $1,487,000. Atlas Capital Advisors Inc. bought a new stake in Itochu during the 4th quarter valued at $279,000. Confluence Investment Management LLC raised its stake in Itochu by 4.8% during the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after acquiring an additional 446 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Itochu by 21.8% during the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $364,000 after acquiring an additional 516 shares in the last quarter. Institutional investors own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Nomura upgraded Itochu to a “strong-buy” rating in a research report on Wednesday, February 25th. Daiwa Securities Group upgraded Itochu to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Zacks Research upgraded Itochu to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

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About Itochu

(Get Free Report)

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.

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