Toray Industries Inc. (OTCMKTS:TRYIY) Stock Short Interest Falls 98.4%

Key Points

• Short interest plunged 98.4%, falling from 189,152 shares on August 31 to 3,050 shares on September 15. Short interest now represents approximately 0.0% of outstanding shares, with a 0.1-day short-interest ratio.
• Toray Industries reported quarterly EPS of $0.27, beating estimates by $0.07, while revenue of $4.31 billion exceeded the $4.03 billion consensus forecast.
• The stock recently traded at $15.72, within its $11.70–$17.51 12-month range. Analyst sentiment is broadly positive, with a consensus rating of “Buy”, although ratings are split between Strong Buy and Hold.

Toray Industries Inc. (OTCMKTS:TRYIY - Get Free Report) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 3,050 shares, a drop of 98.4% from the August 31st total of 189,152 shares. Based on an average trading volume of 56,170 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Toray Industries Stock Performance

Toray Industries stock traded down $0.10 on Thursday, reaching $15.72. 19,198 shares of the stock were exchanged, compared to its average volume of 31,135. The company has a current ratio of 1.87, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. Toray Industries has a twelve month low of $11.70 and a twelve month high of $17.51. The firm has a fifty day moving average price of $15.67 and a two-hundred day moving average price of $14.73. The stock has a market cap of $11.83 billion, a PE ratio of 19.17 and a beta of 0.51.

Toray Industries (OTCMKTS:TRYIY - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. Toray Industries had a return on equity of 4.84% and a net margin of 3.48%.The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.03 billion. Sell-side analysts anticipate that Toray Industries will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Toray Industries to a "hold" rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy".

About Toray Industries

Toray Industries, Inc is a Japanese chemicals and advanced materials company founded in 1926. The company develops and manufactures products based on polymer chemistry, organic synthesis, biotechnology and nanotechnology for industrial and consumer applications.

Its businesses include synthetic fibers and textiles, engineering plastics, resin products, films, chemicals, carbon fiber and carbon-fiber composite materials, as well as electronic and information-related materials. Toray also provides water-treatment products, including reverse-osmosis membranes and other separation technologies, and develops pharmaceutical and medical products.

Toray serves customers in industries such as aerospace, automotive, electronics, construction, energy, healthcare and apparel.

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