SUMCO (OTCMKTS:SUOPY) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 58.3% — short interest rose to 5,876 shares as of Feb. 27 from 3,711 on Feb. 12, yielding a short-interest ratio of 2.4 days based on average daily volume of 2,412 shares.
• SUMCO shares opened at $22.15 (up 3.4%), with a market cap of $3.87 billion, a negative trailing P/E (−49.22) and a 52‑week range of $10.29–$24.15.
• For the quarter SUMCO reported a loss of $0.40 per share on $683.19 million in revenue, with a negative net margin (−2.82%) and ROE (−1.76%); Sanford C. Bernstein upgraded the stock to a "hold" and MarketBeat shows an average rating of "Buy".

SUMCO (OTCMKTS:SUOPY - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 5,876 shares, an increase of 58.3% from the February 12th total of 3,711 shares. Based on an average daily volume of 2,412 shares, the short-interest ratio is presently 2.4 days. Currently, 0.0% of the company's stock are sold short. Currently, 0.0% of the company's stock are sold short. Based on an average daily volume of 2,412 shares, the short-interest ratio is presently 2.4 days.

SUMCO Stock Up 3.4%

SUOPY stock opened at $22.15 on Friday. The stock has a market capitalization of $3.87 billion, a PE ratio of -49.22 and a beta of 1.06. SUMCO has a 52 week low of $10.29 and a 52 week high of $24.15. The company has a quick ratio of 1.33, a current ratio of 3.21 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $20.75 and a 200 day moving average of $19.40.

SUMCO (OTCMKTS:SUOPY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported ($0.40) earnings per share (EPS) for the quarter. The company had revenue of $683.19 million for the quarter. SUMCO had a negative net margin of 2.82% and a negative return on equity of 1.76%.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein raised SUMCO from a "strong sell" rating to a "hold" rating in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy".

About SUMCO

SUMCO Corporation OTCMKTS: SUOPY is a premier global supplier of silicon wafers, a foundational material used in the fabrication of semiconductor devices. The company specializes in producing single-crystal silicon wafers in diameters ranging from 150 mm to 300 mm, serving high-performance applications in memory, logic, power devices and discrete components. In addition to its core wafer business, SUMCO offers epitaxial wafers and specialty silicon products designed to meet the exacting requirements of next-generation semiconductor nodes and power electronics.

Founded in 1975 as a spin-off from Mitsubishi Silicon, SUMCO has grown through strategic investments in research and development to advance wafer quality, diameter scaling and defect reduction.

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