Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Down – Here’s Why

Shares of Sumitomo Heavy (OTCMKTS:SOHVY) gapped down before the market opened on Friday . The stock had previously closed at $8.66, but opened at $8.00. Sumitomo Heavy shares last traded at $8.00, with a volume of 100 shares.

Sumitomo Heavy Stock Down 9.4%

The company has a market cap of $3.85 billion, a PE ratio of 17.39 and a beta of 0.42. The business has a 50-day simple moving average of $8.34 and a 200-day simple moving average of $7.80. The company has a quick ratio of 1.12, a current ratio of 1.92 and a debt-to-equity ratio of 0.19.

Sumitomo Heavy (OTCMKTS:SOHVY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $999.00 earnings per share (EPS) for the quarter. The company had revenue of $1.63 billion for the quarter. Sumitomo Heavy had a return on equity of 4.87% and a net margin of 2.98%.

About Sumitomo Heavy

Sumitomo Heavy Industries, Ltd. (OTCMKTS: SOHVY) is a Japanese multinational manufacturer specializing in a broad range of industrial machinery and heavy equipment. Headquartered in Tokyo, the company operates as a core member of the Sumitomo Group, a major keiretsu with roots dating back to the early Meiji era. Sumitomo Heavy serves diverse markets by developing and producing advanced systems for material processing, energy generation, environmental management and transportation.

The company’s product portfolio encompasses industrial machinery such as metal‐forming presses, injection molding machines and power transmission systems.