SUMCO (OTCMKTS:SUOPY) Shares Shorted: Short Interest Down 86.9% in October

SUMCO (OTCMKTS:SUOPY) saw a significant decline in short interest in October. As of October 30th, there was short interest totaling 1,313 shares, a decline of 86.9% from the October 15th total of 9,996 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 49,335 shares, the short-interest ratio is currently 0.0 days.

SUMCO Stock Performance

Shares of SUMCO stock traded up $0.48 on Thursday, reaching $27.54. 25,890 shares of the company traded hands, compared to its average volume of 12,742. The company has a 50 day moving average of $36.23 and a 200 day moving average of $36.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.37 and a quick ratio of 1.53. SUMCO has a 52 week low of $14.55 and a 52 week high of $69.37. The firm has a market capitalization of $4.82 billion, a PE ratio of -26.74 and a beta of 1.63.

SUMCO (OTCMKTS:SUOPY) last posted its quarterly earnings results on Wednesday, November 11th. The company reported ($0.16) earnings per share for the quarter. The firm had revenue of $738.42 million for the quarter. SUMCO had a negative return on equity of 4.24% and a negative net margin of 6.60%. Equities analysts forecast that SUMCO will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Separately, UBS Group upgraded shares of SUMCO to a “buy” rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About SUMCO

SUMCO Corporation is a Japan-based manufacturer of silicon wafers, the foundational materials used to produce semiconductor devices. Its products include polished and epitaxial wafers supplied to semiconductor manufacturers for use in a range of applications. The company was established in 1999 as Sumitomo Mitsubishi Silicon Corporation through the combination of silicon wafer businesses associated with Sumitomo Metal Industries and Mitsubishi Materials. It adopted the SUMCO name in 2002. Headquartered in Japan, SUMCO serves semiconductor manufacturers around the world.