Itochu (OTCMKTS:ITOCY) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $90.80 and traded as low as $14.05. Itochu shares last traded at $14.24, with a volume of 330,717 shares changing hands.

Analyst Upgrades and Downgrades

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

Itochu Price Performance

The firm has a 50-day simple moving average of $44.36 and a two-hundred day simple moving average of $90.80. The company has a market capitalization of $112.84 billion, a price-to-earnings ratio of 15.15 and a beta of 0.69. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On Itochu

Hedge funds have recently bought and sold shares of the stock. Aristotle Capital Management LLC purchased a new position in shares of Itochu during the 4th quarter valued at approximately $1,487,000. Atlas Capital Advisors Inc. acquired a new stake in Itochu during the fourth quarter valued at $279,000. OLD National Bancorp IN purchased a new position in Itochu in the fourth quarter valued at $201,000. Confluence Investment Management LLC raised its position in shares of Itochu by 4.8% in the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after acquiring an additional 446 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Itochu by 21.8% in the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after acquiring an additional 516 shares during the period. Hedge funds and other institutional investors own 0.08% of the company’s stock.

About Itochu

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.