Itochu (OTCMKTS:ITOCY) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $112.70 and traded as high as $113.62. Itochu shares last traded at $113.47, with a volume of 28,729 shares.

Itochu Stock Down 0.6%

The company has a market cap of $81.64 billion, a P/E ratio of 14.81 and a beta of 0.75. The company’s 50-day moving average is $112.70 and its two-hundred day moving average is $104.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.29 and a quick ratio of 0.95.

Itochu (OTCMKTS:ITOCY) last issued its earnings results on Friday, August 1st. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.25). The business had revenue of $23.65 billion during the quarter, compared to analyst estimates of $27.22 billion.

Institutional Investors Weigh In On Itochu

Several large investors have recently bought and sold shares of ITOCY. Confluence Investment Management LLC raised its position in Itochu by 1.4% in the 2nd quarter. Confluence Investment Management LLC now owns 8,636 shares of the company’s stock worth $904,000 after buying an additional 120 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Itochu by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after acquiring an additional 421 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after acquiring an additional 125 shares during the period. 0.08% of the stock is currently owned by institutional investors.

Itochu Company Profile

ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company’s Textile segment produces and sells raw materials, threads, and textiles; and garments, home furnishings, and industrial materials, as well as trades in industrial textile and lifestyle products. Its Machinery segment engages in the plants, bridges, railways, and other infrastructure; power generation, transmission, transformation, and sale; water, environment and waste-related; ship trading; renewable and alternative energy; and waste recycling businesses.