Itochu (OTCMKTS:ITOCY) Share Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Itochu Corp. stock recently crossed above its 50-day moving average of $105.77, reaching a trading high of $112.82.
• The company reported a missed earnings estimate with EPS of $2.78, falling short of the consensus estimate of $3.03, while quarterly revenue was $23.65 billion against expectations of $27.22 billion.
• Institutional investors are increasingly acquiring shares of Itochu, with notable increases in stakes by firms like First Horizon Advisors and GAMMA Investing.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $105.77 and traded as high as $112.82. Itochu shares last traded at $112.35, with a volume of 12,132 shares.

Itochu Trading Down 0.1%

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 firm has a market capitalization of $81.41 billion, a P/E ratio of 14.77 and a beta of 0.75. The business's 50-day moving average is $106.50 and its 200 day moving average is $100.02.

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

Hedge Funds Weigh In On Itochu

Several hedge funds have recently bought and sold shares of ITOCY. Confluence Investment Management LLC increased its holdings in Itochu by 2.5% in the 1st quarter. Confluence Investment Management LLC now owns 8,516 shares of the company's stock valued at $792,000 after buying an additional 204 shares during the period. GAMMA Investing LLC increased its holdings in Itochu by 6,003.3% in the 1st quarter. GAMMA Investing LLC now owns 101,009 shares of the company's stock valued at $9,395,000 after buying an additional 99,354 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Itochu by 38.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company's stock valued at $48,000 after buying an additional 125 shares during the period. 0.08% of the stock is owned by institutional investors.

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.