Short Interest in Sumitomo Chemcl (OTCMKTS:SOMMY) Rises By 350.0%

Key Points

• Short interest in Sumitomo Chemical increased by 350.0% in September, reaching a total of 3,600 shares by the end of the month.
• Zacks Research has upgraded Sumitomo Chemical to a "hold" rating, aligning with the overall consensus rating from analysts.
• As of the latest trading, Sumitomo Chemical stock price is at $15.18, reflecting a 1.6% decline in value.

Sumitomo Chemcl (OTCMKTS:SOMMY - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 3,600 shares, a growth of 350.0% from the September 15th total of 800 shares. Based on an average daily volume of 2,800 shares, the short-interest ratio is presently 1.3 days. Based on an average daily volume of 2,800 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Sumitomo Chemcl to a "hold" rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Sumitomo Chemcl Trading Down 1.6%

Sumitomo Chemcl stock opened at $15.18 on Friday. The business has a 50 day moving average price of $15.24 and a two-hundred day moving average price of $13.03. The company has a quick ratio of 0.89, a current ratio of 1.56 and a debt-to-equity ratio of 0.97. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 89.28 and a beta of 0.28. Sumitomo Chemcl has a 12 month low of $9.95 and a 12 month high of $16.85.

Sumitomo Chemcl (OTCMKTS:SOMMY - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported ($0.10) EPS for the quarter. The firm had revenue of $3.64 billion during the quarter. Sumitomo Chemcl had a net margin of 0.35% and a return on equity of 0.80%.

Sumitomo Chemcl Company Profile

Sumitomo Chemical Company, Limited engages in Chemicals & Plastics, energy and functional materials, IT-related chemicals, health and crop sciences, pharmaceuticals, and other businesses worldwide. Its Essential Chemicals & Plastics segment offers synthetic resins, such as polyethylene, polypropylene, and polymethyl methacrylate resins; raw materials for synthetic fibers; and various industrial chemicals.

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