Sumitomo Co. (OTCMKTS:SSUMY) Short Interest Update

Sumitomo Co. (OTCMKTS:SSUMY) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 73,300 shares, an increase of 59.0% from the May 15th total of 46,100 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 247,300 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, Nomura Securities upgraded shares of Sumitomo to a “strong-buy” rating in a research note on Wednesday, May 28th.

Sumitomo Stock Performance

OTCMKTS SSUMY opened at $24.95 on Monday. The firm’s 50 day simple moving average is $24.52 and its 200 day simple moving average is $22.94. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.67 and a beta of 0.64. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.55. Sumitomo has a 1 year low of $19.00 and a 1 year high of $26.67.

Sumitomo (OTCMKTS:SSUMY) last issued its earnings results on Thursday, May 1st. The conglomerate reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Sumitomo had a return on equity of 7.73% and a net margin of 5.42%. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $11.78 billion. As a group, research analysts expect that Sumitomo will post 2.82 earnings per share for the current fiscal year.

About Sumitomo

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.