Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Up – Time to Buy?

Sumitomo Heavy (OTCMKTS:SOHVY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.76, but opened at $9.24. Sumitomo Heavy shares last traded at $9.24, with a volume of 387 shares.

Sumitomo Heavy Stock Up 7.4%

The business has a fifty day moving average of $8.61 and a 200 day moving average of $8.49. The firm has a market cap of $4.44 billion, a P/E ratio of 16.50 and a beta of 0.42. The company has a quick ratio of 1.12, a current ratio of 1.92 and a debt-to-equity ratio of 0.19.

Sumitomo Heavy (OTCMKTS:SOHVY) last issued its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $1.87 billion for the quarter. Sumitomo Heavy had a return on equity of 6.15% and a net margin of 3.59%.

About Sumitomo Heavy

Sumitomo Heavy Industries, Ltd. (OTCMKTS: SOHVY) is a Japanese multinational manufacturer specializing in a broad range of industrial machinery and heavy equipment. Headquartered in Tokyo, the company operates as a core member of the Sumitomo Group, a major keiretsu with roots dating back to the early Meiji era. Sumitomo Heavy serves diverse markets by developing and producing advanced systems for material processing, energy generation, environmental management and transportation.

The company’s product portfolio encompasses industrial machinery such as metal‐forming presses, injection molding machines and power transmission systems.