Itochu Corp. (OTCMKTS:ITOCY) Stock Short Interest Report for September

Key Points

• Short interest plunged 74.1% to 71,802 shares by September 30, representing just 0.0% of Itochu’s outstanding stock and a short-interest ratio of 0.2 days.
• Itochu shares opened at $13.71, with the company valued at approximately $108.64 billion. Its latest quarterly earnings slightly missed estimates on EPS, though revenue exceeded analyst expectations.
• Analyst sentiment remains positive: Zacks Research upgraded Itochu to “strong buy,” and all four tracked analysts rate the stock either Strong Buy or Buy.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 71,802 shares, a drop of 74.1% from the September 15th total of 277,377 shares. Based on an average trading volume of 462,127 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company's stock are sold short.

Itochu Trading Up 0.9%

Shares of ITOCY stock opened at $13.71 on Friday. 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 has a market capitalization of $108.64 billion, a price-to-earnings ratio of 14.74 and a beta of 0.63. Itochu has a 52-week low of $10.80 and a 52-week high of $15.44. The company has a 50-day simple moving average of $13.71 and a two-hundred day simple moving average of $12.69.

Itochu (OTCMKTS:ITOCY - Get Free Report) last posted 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 business had revenue of $24.75 billion for the quarter, compared to analysts' expectations of $22.01 billion. Research analysts anticipate that Itochu will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aristotle Capital Management LLC grew its stake in Itochu by 897.0% in the 1st 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 during the period. Confluence Investment Management LLC increased its position in shares of Itochu by 0.8% during the 3rd quarter. Confluence Investment Management LLC now owns 103,854 shares of the company's stock valued at $1,448,000 after purchasing an additional 791 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Itochu by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 31,411 shares of the company's stock worth $438,000 after purchasing an additional 3,128 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Itochu during the 4th quarter worth $279,000. Finally, OLD National Bancorp IN raised its stake in shares of Itochu by 898.1% during the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company's stock worth $193,000 after purchasing an additional 13,993 shares during the period. Hedge funds and other institutional investors own 0.08% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research raised Itochu from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Three analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Strong Buy".

Itochu Company Profile

Itochu Corporation is a Japan-based general trading company with business activities spanning a broad range of industries and geographies. The company develops, imports, exports and distributes products while also investing in businesses and providing related services through its global network.

Itochu's principal operations include textiles, food, metals and minerals, energy and chemicals, machinery, general products and real estate, as well as financial services and information and communications technology.

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