Sumitomo Co. (OTCMKTS:SSUMY) Sees Large Growth in Short Interest

Sumitomo Co. (OTCMKTS:SSUMY) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 37,900 shares, a growth of 109.4% from the September 15th total of 18,100 shares. Based on an average daily trading volume, of 110,000 shares, the days-to-cover ratio is currently 0.3 days.

Sumitomo Stock Performance

SSUMY traded down $0.02 during midday trading on Friday, hitting $22.51. 49,370 shares of the company traded hands, compared to its average volume of 59,457. The company’s 50-day moving average is $22.66 and its 200 day moving average is $24.44. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $27.26 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.70. Sumitomo has a 52 week low of $19.00 and a 52 week high of $28.90.

Sumitomo (OTCMKTS:SSUMY) last released its earnings results on Wednesday, July 31st. The conglomerate reported $0.64 earnings per share for the quarter. Sumitomo had a return on equity of 8.11% and a net margin of 5.46%. The company had revenue of $11.01 billion for the quarter. On average, research analysts expect that Sumitomo will post 3.05 EPS for the current year.

Sumitomo Company Profile

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.