Short Interest in Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Expands By 312.5%

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 66,000 shares, a growth of 312.5% from the May 15th total of 16,000 shares. Based on an average trading volume of 144,400 shares, the short-interest ratio is currently 0.5 days.

Sumitomo Electric Industries Trading Down 2.3%

Shares of SMTOY opened at $19.65 on Friday. The firm has a 50-day moving average price of $17.38 and a 200 day moving average price of $17.77. Sumitomo Electric Industries has a 52-week low of $12.12 and a 52-week high of $21.51.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates through Automotive, Infocommunications, Electronics, Environment and Energy, and Industrial Materials and Others segments. The company offers wiring harnesses and electrical components; steel cords for tire reinforcement; steel wires for springs; wiring materials; optical lenses for infrared devices; abrasion-resistant parts/materials; heat shrink and heat-resistant tubing/tapes; magnet and aluminum bars/wires; products for electronic devices; sintered parts; and EV quick-charger connector assemblies.