Itochu (OTCMKTS:ITOCY) Shares Gap Down - Time to Sell?

Key Points

• Itochu Corp. shares gapped down on Tuesday, opening at $105.66 after closing at $108.85, with a trading volume of 1,680 shares.
• The company reported $2.78 EPS for the last quarter, missing analysts' expectations by $0.25 and generating revenue of $23.65 billion, below the expected $27.22 billion.
• Several hedge funds, including First Horizon Advisors and GAMMA Investing LLC, have increased their stakes in Itochu, highlighting growing institutional interest.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $108.85, but opened at $105.66. Itochu shares last traded at $105.66, with a volume of 1,680 shares trading hands.

Itochu Price Performance

The company has a quick ratio of 0.95, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market cap of $78.14 billion, a PE ratio of 14.18 and a beta of 0.81. The stock has a 50-day simple moving average of $104.80 and a 200 day simple moving average of $98.37.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its stake 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 buying an additional 125 shares during the last quarter. GAMMA Investing LLC grew its stake 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 during the last quarter. Finally, Confluence Investment Management LLC grew its stake in Itochu by 2.5% during the 1st quarter. Confluence Investment Management LLC now owns 8,516 shares of the company's stock worth $792,000 after buying an additional 204 shares during the last quarter. 0.08% of the stock is 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.