Sumitomo Electric Industries (OTCMKTS:SMTOY) Shares Gap Up – Here’s What Happened

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY)’s share price gapped up before the market opened on Thursday. The stock had previously closed at $4.40, but opened at $4.7633. Sumitomo Electric Industries shares last traded at $4.83, with a volume of 196,230 shares changing hands.

Sumitomo Electric Industries Trading Down 2.0%

The company has a market cap of $31.00 billion, a price-to-earnings ratio of 11.09 and a beta of 1.16. The business’s 50 day moving average price is $6.43 and its 200-day moving average price is $38.25.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last released its quarterly earnings results on Friday, October 30th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $9.12 billion during the quarter, compared to the consensus estimate 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.