Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Up 524.4% in April

Sumitomo Corp. (OTCMKTS:SSUMY – Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 142,866 shares, an increase of 524.4% from the April 15th total of 22,880 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 204,992 shares, the days-to-cover ratio is currently 0.7 days.

Sumitomo Price Performance

Shares of Sumitomo stock opened at $45.97 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 0.89. The business’s 50 day simple moving average is $38.21 and its two-hundred day simple moving average is $36.45. The stock has a market capitalization of $54.94 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.51. Sumitomo has a one year low of $24.00 and a one year high of $47.73.

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Sumitomo (OTCMKTS:SSUMY – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The business had revenue of $12.48 billion for the quarter, compared to analysts’ expectations of $14.01 billion. Sumitomo had a return on equity of 12.04% and a net margin of 8.19%. Analysts forecast that Sumitomo will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sumitomo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. One 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”.

Check Out Our Latest Analysis on Sumitomo

About Sumitomo

(Get Free Report)

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.

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