Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Down 27.7% in October

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 90,900 shares, a decline of 27.7% from the September 30th total of 125,800 shares. Based on an average trading volume of 156,100 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 156,100 shares, the days-to-cover ratio is currently 0.6 days.

Sumitomo Stock Performance

SSUMY opened at $29.07 on Tuesday. The business’s 50 day moving average is $29.40 and its 200-day moving average is $26.95. The stock has a market cap of $35.22 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 1.17 and a beta of 0.53. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.54. Sumitomo has a twelve month low of $19.18 and a twelve month high of $31.11.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, October 31st. The conglomerate reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The business had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.52%. On average, analysts predict that Sumitomo will post 2.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Sumitomo Company Profile

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.