Itochu (OTCMKTS:ITOCY) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Technical signal: Itochu shares fell below their 200‑day moving average of $69.14, trading as low as $12.73 and last at $13.31 (50‑day MA $13.35), indicating a breach of long‑term support.
• Analyst sentiment: Brokerages have turned positive recently — Goldman Sachs initiated coverage with a Buy and Nomura and Daiwa upgraded to Strong‑Buy, leaving an average MarketBeat rating of "Buy" (2 Strong Buy, 1 Buy, 1 Hold).
• Fundamentals and ownership: The company has a market cap of about $105.5B and a P/E of 14.16, but institutional ownership is very low (~0.08%) despite some hedge fund buying activity.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $69.14 and traded as low as $12.73. Itochu shares last traded at $13.31, with a volume of 248,018 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Itochu in a report on Tuesday, January 6th. They issued a "buy" rating for the company. Zacks Research raised Itochu to a "hold" rating in a research note on Monday, January 12th. Daiwa Securities Group raised Itochu to a "strong-buy" rating in a research note on Friday, February 27th. Finally, Nomura raised Itochu to a "strong-buy" rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy".

Itochu Stock Up 4.1%

The stock has a market capitalization of $105.47 billion, a PE ratio of 14.16 and a beta of 0.70. The firm has a 50 day moving average of $13.35 and a two-hundred day moving average of $69.14. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Itochu

Hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its position in Itochu by 1,370.6% during the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company's stock worth $29,000 after buying an additional 233 shares in the last quarter. OLD National Bancorp IN purchased a new position in Itochu during the fourth quarter worth $201,000. GAMMA Investing LLC increased its position in Itochu by 21.7% during the third quarter. GAMMA Investing LLC now owns 2,365 shares of the company's stock worth $272,000 after buying an additional 421 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in Itochu during the fourth quarter worth $279,000. Finally, Confluence Investment Management LLC increased its position in Itochu by 8.6% during the third quarter. Confluence Investment Management LLC now owns 9,381 shares of the company's stock worth $1,080,000 after buying an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 0.08% of the company's stock.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.