Sumitomo Corp. (OTCMKTS:SSUMY) Short Interest Down 47.3% in August

Sumitomo Corp. (OTCMKTS:SSUMY) saw a significant drop in short interest in August. As of August 14th, there was short interest totaling 114,456 shares, a drop of 47.3% from the July 30th total of 217,365 shares. Based on an average daily trading volume, of 421,428 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the stock are short sold.

Sumitomo Price Performance

Shares of OTCMKTS SSUMY traded up $0.07 during midday trading on Monday, hitting $11.16. 241,338 shares of the company’s stock were exchanged, compared to its average volume of 364,303. Sumitomo has a 12-month low of $6.97 and a 12-month high of $12.21. The company has a market cap of $53.35 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.69 and a beta of 0.58. The company has a current ratio of 1.34, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $18.43 and its two-hundred day moving average price is $32.73.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.58). The company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. As a group, research analysts forecast that Sumitomo will post 2.1 EPS for the current fiscal 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.