Sumitomo Co. (OTCMKTS:SSUMY) Sees Significant Growth in Short Interest

Sumitomo Co. (OTCMKTS:SSUMY - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 73,300 shares, an increase of 59.0% from the May 15th total of 46,100 shares. Based on an average daily trading volume, of 247,300 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the company are sold short.

Sumitomo Trading Down 1.6%

Shares of SSUMY traded down $0.40 during trading hours on Friday, hitting $24.95. 68,177 shares of the stock were exchanged, compared to its average volume of 86,654. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.77 and a quick ratio of 1.24. The firm has a market capitalization of $30.22 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.67 and a beta of 0.64. The business has a 50-day moving average of $24.52 and a 200-day moving average of $22.92. Sumitomo has a fifty-two week low of $19.00 and a fifty-two week high of $26.67.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The conglomerate reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $11.78 billion. Sumitomo had a net margin of 5.42% and a return on equity of 7.73%. On average, research analysts expect that Sumitomo will post 2.82 EPS for the current year.

Analysts Set New Price Targets

Separately, Nomura Securities raised shares of Sumitomo to a "strong-buy" rating in a report on Wednesday, May 28th.

Sumitomo Company Profile

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.