Toray Industries Inc. (OTCMKTS:TRYIY) Short Interest Down 95.8% in August

Key Points

• Toray Industries experienced a significant 95.8% decrease in short interest in August, dropping to 2,000 shares from 48,000 shares at the end of July.
• The company reported lower-than-expected earnings of $0.15 per share for the quarter, missing the consensus estimate of $0.24, while revenue was $4.03 billion against an expected $4.41 billion.
• Analysts have given Toray Industries a consensus rating of "Hold", with UBS Group recently downgrading the stock from a "strong-buy" rating.

Toray Industries Inc. (OTCMKTS:TRYIY - Get Free Report) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totaling 2,000 shares, adeclineof95.8% from the July 31st total of 48,000 shares. Based on an average daily volume of 25,200 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 25,200 shares, the days-to-cover ratio is currently 0.1 days.

Toray Industries Price Performance

TRYIY traded up $0.27 during midday trading on Friday, hitting $13.36. 14,713 shares of the company traded hands, compared to its average volume of 24,308. The business has a 50 day simple moving average of $13.47 and a two-hundred day simple moving average of $13.39. Toray Industries has a 52-week low of $10.10 and a 52-week high of $14.80. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 23.03 and a beta of 0.57. The company has a current ratio of 1.69, a quick ratio of 1.07 and a debt-to-equity ratio of 0.25.

Toray Industries (OTCMKTS:TRYIY - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.09). The company had revenue of $4.03 billion for the quarter, compared to analysts' expectations of $4.41 billion. Toray Industries had a return on equity of 3.76% and a net margin of 2.72%. Toray Industries has set its FY 2025 guidance at 0.740-0.740 EPS. On average, equities analysts forecast that Toray Industries will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRYIY has been the topic of several analyst reports. UBS Group lowered shares of Toray Industries from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Nomura Securities raised shares of Toray Industries to a "hold" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

About Toray Industries

Toray Industries, Inc, together with its subsidiaries, manufactures, processes, and sells fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering products, and life science products in Japan, China, North America, Europe, and internationally. The company offers filament yarns, staple fibers, and spun yarns, as well as woven and knitted fabrics of nylon, polyester, acrylics, and others; non-woven fabrics; ultra-fine fibers; and apparel products.