Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Key Points

• Short interest in Itochu more than doubled to 346,661 shares as of August 31, up 103.7% from mid-August, though it represented approximately 0.0% of shares outstanding and just 0.5 days to cover.
• Shares rose 0.4% to $15.11, near the company’s 52-week high of $15.44. Itochu has a $119.70 billion market capitalization and trades at a price-to-earnings ratio of 16.24.
• In its latest quarter, Itochu reported $0.26 in earnings per share, slightly below the $0.27 consensus estimate, while revenue of $24.75 billion exceeded expectations of $22.01 billion.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 346,661 shares, a growth of 103.7% from the August 15th total of 170,213 shares. Approximately 0.0% of the company's shares are short sold. Based on an average trading volume of 690,273 shares, the days-to-cover ratio is presently 0.5 days.

Itochu Trading Up 0.4%

Shares of ITOCY stock traded up $0.06 during mid-day trading on Monday, hitting $15.11. The company's stock had a trading volume of 44,705 shares, compared to its average volume of 467,877. The company has a market cap of $119.70 billion, a PE ratio of 16.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.35. The company's fifty day simple moving average is $12.77 and its 200-day simple moving average is $12.56. Itochu has a 52 week low of $10.75 and a 52 week high of $15.44.

Itochu (OTCMKTS:ITOCY - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $22.01 billion. As a group, equities research analysts expect that Itochu will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Itochu

Several large investors have recently modified their holdings of ITOCY. OLD National Bancorp IN increased its stake in shares of Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company's stock valued at $193,000 after acquiring an additional 13,993 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Itochu in the fourth quarter worth $279,000. Confluence Investment Management LLC grew its holdings in Itochu by 1.1% in the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company's stock worth $1,175,000 after purchasing an additional 1,159 shares during the period. Finally, Aristotle Capital Management LLC increased its stake in Itochu by 897.0% in the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company's stock valued at $1,468,000 after purchasing an additional 105,505 shares in the last quarter. Institutional investors and hedge funds own 0.08% of the company's stock.

About Itochu

Itochu Corporation is a diversified Japanese general trading company, or sogo shosha, that develops and manages businesses across multiple industries. The company is involved in the sourcing, distribution, financing and investment of products and services through global supply chains.

Its principal business areas include textiles; metals and minerals; food; machinery; energy and chemicals; general products and real estate; and information, communications and financial services. Its activities range from apparel and food distribution to infrastructure, industrial equipment, natural resources, consumer products, logistics, information technology and financial solutions.

Founded in 1858 by Chubei Itoh as a textile-trading business, Itochu has expanded into an international enterprise with operations and business partners in Japan and markets throughout Asia, North America, Europe and other regions.

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