Itochu (OTCMKTS:ITOCY) Shares Gap Down – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY) gapped down prior to trading on Tuesday . The stock had previously closed at $14.66, but opened at $13.69. Itochu shares last traded at $14.0480, with a volume of 24,368 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on ITOCY shares. The Goldman Sachs Group started coverage on Itochu in a research report on Tuesday, January 6th. They issued a “buy” rating for the company. Zacks Research raised shares of Itochu to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Itochu Price Performance

The stock has a fifty day moving average of $53.17 and a 200 day moving average of $93.50. The stock has a market cap of $115.30 billion, a price-to-earnings ratio of 15.48 and a beta of 0.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96.

Institutional Investors Weigh In On Itochu

Hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC grew its position in Itochu by 1,370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after buying an additional 125 shares during the last quarter. OLD National Bancorp IN purchased a new stake in shares of Itochu in the fourth quarter worth about $201,000. GAMMA Investing LLC grew its holdings in Itochu by 21.7% during the third quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock worth $272,000 after acquiring an additional 421 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in Itochu during the fourth quarter valued at approximately $279,000. 0.08% of the stock is owned by hedge funds and other institutional investors.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.