Short Interest in Itochu Corp. (OTCMKTS:ITOCY) Expands By 103.7%

Itochu Corp. (OTCMKTS:ITOCYGet Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 346,661 shares, a growth of 103.7% from the August 15th total of 170,213 shares. Based on an average daily trading volume, of 690,273 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are sold short.

Itochu Stock Up 0.4%

ITOCY stock traded up $0.06 during trading on Monday, reaching $15.11. 44,705 shares of the stock were exchanged, compared to its average volume of 467,877. The firm’s 50 day moving average is $12.77 and its 200 day moving average is $12.56. The firm has a market cap of $119.70 billion, a P/E ratio of 16.24 and a beta of 0.63. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.46. Itochu has a twelve month low of $10.75 and a twelve month high of $15.44.

Itochu (OTCMKTS:ITOCYGet Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $22.01 billion. As a group, research analysts forecast that Itochu will post 0.92 EPS for the current year.

Institutional Trading of Itochu

Hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC increased its stake in Itochu by 1.1% during the 2nd quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,159 shares in the last quarter. Aristotle Capital Management LLC lifted its stake in shares of Itochu by 897.0% in the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after buying an additional 105,505 shares in the last quarter. OLD National Bancorp IN grew its holdings in shares of Itochu by 898.1% during the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Itochu during the fourth quarter worth about $279,000. Institutional investors and hedge funds own 0.08% of the company’s stock.

About Itochu

(Get Free Report)

Itochu Corporation is a diversified Japanese general trading company, or sogo shosha, that develops and manages businesses across multiple industries. The company is involved in the sourcing, distribution, financing and investment of products and services through global supply chains.

Its principal business areas include textiles; metals and minerals; food; machinery; energy and chemicals; general products and real estate; and information, communications and financial services. Its activities range from apparel and food distribution to infrastructure, industrial equipment, natural resources, consumer products, logistics, information technology and financial solutions.

Founded in 1858 by Chubei Itoh as a textile-trading business, Itochu has expanded into an international enterprise with operations and business partners in Japan and markets throughout Asia, North America, Europe and other regions.

Read More

Receive News & Ratings for Itochu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itochu and related companies with MarketBeat.com's FREE daily email newsletter.