Sumitomo Chemcl (OTCMKTS:SOMMY) Shares Up 3.5% - Should You Buy?

Key Points

• Shares of Sumitomo Chemical rose by 3.5% to trade at $15.43, despite a significant drop in trading volume compared to average levels.
• Zacks Research upgraded Sumitomo Chemical to a "hold" rating, contributing to its current average rating of "hold" from analysts.
• The company recently reported a quarterly loss of $0.10 EPS with revenue of $3.64 billion, indicating a return on equity of only 0.80%.

Shares of Sumitomo Chemcl (OTCMKTS:SOMMY - Get Free Report) shot up 3.5% on Tuesday . The company traded as high as $15.43 and last traded at $15.43. 450 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,864 shares. The stock had previously closed at $14.91.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded 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, According to data from MarketBeat, the company has an average rating of "Hold".

Sumitomo Chemcl Stock Up 3.5%

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 company's fifty day simple moving average is $15.16 and its 200 day simple moving average is $12.99. The firm has a market capitalization of $5.12 billion, a PE ratio of 90.76 and a beta of 0.28.

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

About Sumitomo Chemcl

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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