Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Up 38.8% in December

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 78,859 shares, an increase of 38.8% from the November 30th total of 56,798 shares. Based on an average trading volume of 192,193 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company’s stock are sold short. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 192,193 shares, the days-to-cover ratio is currently 0.4 days.

Sumitomo Stock Down 1.4%

Sumitomo stock opened at $34.72 on Wednesday. The stock has a 50-day simple moving average of $31.91 and a 200-day simple moving average of $29.04. The company has a market capitalization of $42.05 billion, a P/E ratio of 10.24, a PEG ratio of 1.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57. Sumitomo has a fifty-two week low of $19.18 and a fifty-two week high of $35.89.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, October 31st. The conglomerate reported $0.73 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.13). The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.60 billion. Sumitomo had a return on equity of 12.31% and a net margin of 8.34%. Equities research analysts expect that Sumitomo will post 2.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Sumitomo Company Profile

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.