Short Interest in Itochu Corp. (OTCMKTS:ITOCY) Expands By 103.7%

Itochu Corp. (OTCMKTS:ITOCY) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 346,661 shares, an increase of 103.7% from the August 15th total of 170,213 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 690,273 shares, the days-to-cover ratio is currently 0.5 days.

Itochu Price Performance

ITOCY opened at $15.17 on Tuesday. The firm has a market cap of $120.21 billion, a P/E ratio of 16.31 and a beta of 0.63. The business’s fifty day simple moving average is $12.84 and its 200 day simple moving average is $12.56. Itochu has a 52 week low of $10.75 and a 52 week high of $15.44. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

Itochu (OTCMKTS:ITOCY) last issued 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 firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $22.01 billion. As a group, equities research analysts anticipate that Itochu will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Itochu

Large investors have recently modified their holdings of the company. Aristotle Capital Management LLC lifted 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 buying an additional 105,505 shares in the last quarter. OLD National Bancorp IN increased its holdings in Itochu by 898.1% in the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Itochu during the 4th quarter valued at approximately $279,000. Finally, Confluence Investment Management LLC raised its holdings in shares of Itochu by 1.1% during the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock worth $1,175,000 after purchasing an additional 1,159 shares during the period. 0.08% of the stock is currently owned by hedge funds and other institutional investors.

About Itochu

Itochu Corporation is a diversified Japanese general trading company, or sogo shosha, that develops and manages businesses across multiple industries. The company is involved in the sourcing, distribution, financing and investment of products and services through global supply chains.

Its principal business areas include textiles; metals and minerals; food; machinery; energy and chemicals; general products and real estate; and information, communications and financial services. Its activities range from apparel and food distribution to infrastructure, industrial equipment, natural resources, consumer products, logistics, information technology and financial solutions.

Founded in 1858 by Chubei Itoh as a textile-trading business, Itochu has expanded into an international enterprise with operations and business partners in Japan and markets throughout Asia, North America, Europe and other regions.