Sumitomo Electric Industries (OTCMKTS:SMTOY) Stock Jumps 18.8% – Should You Buy?

Shares of Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) were up 18.8% on Monday. The company traded as high as $4.67 and last traded at $4.67. 161,305 shares were traded during mid-day trading, a decline of 78% from the average session volume of 740,095 shares. The stock had previously closed at $3.93.

Sumitomo Electric Industries Price Performance

The stock has a market capitalization of $30.77 billion, a PE ratio of 11.01 and a beta of 1.16. The company has a 50 day moving average price of $6.55 and a 200-day moving average price of $38.82.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $9.12 billion during the quarter, compared to analysts’ expectations of $8.50 billion.

Sumitomo Electric Industries Company Profile

Sumitomo Electric Industries, Ltd. is a Japanese manufacturer of electric wire and cable and a broad range of related products. Founded in 1897, the company traces its origins to copper-wire production and is headquartered in Osaka, Japan.

Its businesses include automotive components such as wiring harnesses; information and communications products such as optical fiber and cables; power cables and other energy-related equipment; and industrial materials, including cutting tools and components made from advanced materials.

Sumitomo Electric serves customers in Japan and international markets through manufacturing and sales operations around the world.