Short Interest in Sumitomo Corp. (OTCMKTS:SSUMY) Increases By 979.7%

Sumitomo Corp. (OTCMKTS:SSUMY) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 217,365 shares, a growth of 979.7% from the July 15th total of 20,132 shares. Based on an average daily volume of 667,539 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the company’s shares are sold short.

Sumitomo Stock Performance

OTCMKTS:SSUMY opened at $11.23 on Wednesday. The firm has a 50 day simple moving average of $26.21 and a 200-day simple moving average of $35.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 1.01. The firm has a market cap of $53.68 billion, a PE ratio of 13.49, a P/E/G ratio of 0.99 and a beta of 0.58. Sumitomo has a 1-year low of $6.55 and a 1-year high of $12.21.

Sumitomo (OTCMKTS:SSUMY) last released its earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.58). The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Sumitomo had a return on equity of 12.39% and a net margin of 8.23%. On average, equities analysts expect that Sumitomo will post 1.47 EPS for the current year.

About Sumitomo

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.