Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Key Points

• Itochu Corp. experienced a significant rise in short interest, increasing by 133.6% to 27,100 shares as of September 30th, indicating heightened bearish sentiment among investors.
• In its latest earnings report, Itochu reported $2.78 earnings per share, missing the consensus estimate of $3.03, with revenue coming in at $23.65 billion versus the expected $27.22 billion.
• Institutional investors have recently adjusted their positions in ITOCY, with GAMMA Investing LLC raising its holdings by 79.0% in the second quarter, reflecting confidence from some investors despite the company's earnings miss.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 27,100 shares, an increase of 133.6% from the September 15th total of 11,600 shares. Based on an average daily volume of 45,500 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 45,500 shares, the short-interest ratio is currently 0.6 days.

Itochu Price Performance

OTCMKTS ITOCY traded up $1.48 during trading hours on Friday, hitting $112.30. 87,285 shares of the company's stock traded hands, compared to its average volume of 25,784. The firm's 50-day moving average is $113.63 and its 200-day moving average is $105.76. Itochu has a 52-week low of $79.12 and a 52-week high of $121.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.29 and a quick ratio of 0.95. The company has a market capitalization of $80.80 billion, a PE ratio of 14.66 and a beta of 0.75.

Itochu (OTCMKTS:ITOCY - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.25). The firm had revenue of $23.65 billion for the quarter, compared to analyst estimates of $27.22 billion.

Institutional Investors Weigh In On Itochu

A number of hedge funds have recently added to or reduced their stakes in ITOCY. GAMMA Investing LLC lifted its holdings in Itochu by 79.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,944 shares of the company's stock worth $204,000 after buying an additional 858 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Itochu by 8.6% in the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company's stock valued at $1,080,000 after buying an additional 745 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Itochu by 38.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company's stock worth $48,000 after purchasing an additional 125 shares during the last quarter. 0.08% of the stock is currently owned by institutional investors and hedge funds.

About Itochu

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.