Sumitomo Co. (OTCMKTS:SSUMY) Sees Large Decline in Short Interest

Sumitomo Co. (OTCMKTS:SSUMY) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 25,000 shares, a decline of 33.5% from the May 31st total of 37,600 shares. Based on an average trading volume of 132,300 shares, the days-to-cover ratio is presently 0.2 days.

Sumitomo Price Performance

Shares of OTCMKTS SSUMY opened at $25.00 on Friday. The company has a fifty day moving average price of $25.87 and a 200 day moving average price of $24.03. Sumitomo has a 1-year low of $18.51 and a 1-year high of $28.90. The firm has a market cap of $30.55 billion, a PE ratio of 11.87, a PEG ratio of 0.60 and a beta of 0.72. The company has a current ratio of 1.63, a quick ratio of 1.18 and a debt-to-equity ratio of 0.55.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported ($0.25) earnings per share (EPS) for the quarter. Sumitomo had a return on equity of 8.68% and a net margin of 5.66%. The firm had revenue of $9.85 billion for the quarter. Research analysts predict that Sumitomo will post 2.86 earnings per share for the current fiscal year.

About Sumitomo

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.