Itochu (OTCMKTS:ITOCY) Shares Gap Up – What’s Next?

Itochu Corp. (OTCMKTS:ITOCY) gapped up before the market opened on Tuesday . The stock had previously closed at $14.10, but opened at $15.00. Itochu shares last traded at $14.7670, with a volume of 78,793 shares.

Itochu Price Performance

The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $12.50 and a 200-day moving average of $12.54. The firm has a market capitalization of $116.99 billion, a P/E ratio of 15.87 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $22.01 billion. On average, sell-side analysts predict that Itochu Corp. will post 0.92 EPS for the current year.

Hedge Funds Weigh In On Itochu

Several hedge funds and other institutional investors have recently made changes to their positions in ITOCY. Aristotle Capital Management LLC raised its position in Itochu by 897.0% during the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after purchasing an additional 105,505 shares in the last quarter. Confluence Investment Management LLC lifted its stake in Itochu by 1.1% in the 2nd quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,159 shares during the last quarter. OLD National Bancorp IN lifted its stake in shares of Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after acquiring an additional 13,993 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Itochu during the fourth quarter valued at about $279,000. 0.08% of the stock is currently owned by institutional investors and hedge funds.

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.