Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Key Points

• Itochu Corp. experienced a significant increase in short interest, rising by 220.4% in August to 34,600 shares, with a short-interest ratio of 0.7 days.
• Several hedge funds have recently increased their holdings in Itochu, with First Horizon Advisors growing their position by 38% and GAMMA Investing LLC by 79% in the second quarter.
• The company's latest earnings report showed an EPS of $2.78, missing expectations, with revenue of $23.65 billion compared to a consensus estimate of $27.22 billion.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 34,600 shares, a growth of 220.4% from the August 15th total of 10,800 shares. Currently, 0.0% of the company's shares are sold short. Based on an average trading volume of 51,700 shares, the short-interest ratio is currently 0.7 days. Based on an average trading volume of 51,700 shares, the short-interest ratio is currently 0.7 days. Currently, 0.0% of the company's shares are sold short.

Hedge Funds Weigh In On Itochu

A number of hedge funds have recently made changes to their positions in ITOCY. Confluence Investment Management LLC increased its holdings in shares of Itochu by 1.4% in the second quarter. Confluence Investment Management LLC now owns 8,636 shares of the company's stock worth $904,000 after purchasing an additional 120 shares during the last quarter. First Horizon Advisors Inc. grew its position in Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company's stock worth $48,000 after acquiring an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Itochu by 79.0% in the second quarter. GAMMA Investing LLC now owns 1,944 shares of the company's stock worth $204,000 after acquiring an additional 858 shares in the last quarter. Institutional investors own 0.08% of the company's stock.

Itochu Trading Down 0.9%

Shares of OTCMKTS:ITOCY traded down $1.11 during mid-day trading on Friday, reaching $116.14. The stock had a trading volume of 14,971 shares, compared to its average volume of 59,215. Itochu has a twelve month low of $79.12 and a twelve month high of $121.59. The firm has a 50 day simple moving average of $108.77 and a two-hundred day simple moving average of $101.87. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.44. The firm has a market cap of $83.56 billion, a PE ratio of 15.16 and a beta of 0.75.

Itochu (OTCMKTS:ITOCY - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $3.03 by ($0.25). Itochu had a return on equity of 13.99% and a net margin of 5.93%.The company had revenue of $23.65 billion during the quarter, compared to the consensus estimate of $27.22 billion.

Itochu Company Profile

ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company's Textile segment produces and sells raw materials, threads, and textiles; and garments, home furnishings, and industrial materials, as well as trades in industrial textile and lifestyle products. Its Machinery segment engages in the plants, bridges, railways, and other infrastructure; power generation, transmission, transformation, and sale; water, environment and waste-related; ship trading; renewable and alternative energy; and waste recycling businesses.

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