Sumitomo Chemcl (OTCMKTS:SOMMY) Stock Short Interest Drops 43.8%

Sumitomo Chemcl (OTCMKTS:SOMMY) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 1,146 shares, a decrease of 43.8% from the August 31st total of 2,040 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 1,025 shares, the short-interest ratio is currently 1.1 days.

Sumitomo Chemcl Stock Performance

SOMMY remained flat at $18.26 on Wednesday. 1,535 shares of the company were exchanged, compared to its average volume of 1,119. The business has a 50-day moving average of $17.40 and a 200 day moving average of $17.00. The stock has a market capitalization of $6.07 billion, a P/E ratio of 8.65 and a beta of 0.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.50. Sumitomo Chemcl has a 1-year low of $13.83 and a 1-year high of $20.60.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Sumitomo Chemcl to a “hold” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

About Sumitomo Chemcl

Sumitomo Chemical Co, Ltd. is a Japan-based diversified chemical company that develops and manufactures products for a broad range of industries. Its businesses include petrochemicals and plastics, synthetic resins, industrial chemicals, coatings, and functional materials used in manufacturing and consumer applications.

The company also supplies materials for information and communications technology, including semiconductor-related and display materials, as well as agricultural chemicals, crop protection products, and household insect-control products.