Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Up 524.4% in April

Sumitomo Corp. (OTCMKTS:SSUMY) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 142,866 shares, a growth of 524.4% from the April 15th total of 22,880 shares. Based on an average trading volume of 204,992 shares, the short-interest ratio is presently 0.7 days. Currently, 0.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Sumitomo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Sumitomo Trading Up 3.1%

SSUMY traded up $1.46 during trading on Wednesday, hitting $48.65. 131,778 shares of the stock were exchanged, compared to its average volume of 99,821. The firm has a 50 day simple moving average of $38.30 and a 200 day simple moving average of $36.57. The firm has a market cap of $58.14 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.75 and a beta of 0.51. Sumitomo has a 1 year low of $24.00 and a 1 year high of $48.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.26.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings data on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, topping the consensus estimate of $0.90 by $0.12. The company had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $14.01 billion. Sumitomo had a return on equity of 12.04% and a net margin of 8.19%. As a group, equities analysts expect that Sumitomo will post 3.45 EPS for the current year.

About Sumitomo

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.