Short Interest in Sumitomo Co. (OTCMKTS:SSUMY) Rises By 1,116.7%

Sumitomo Co. (OTCMKTS:SSUMY - Get Free Report) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 94,900 shares, an increase of 1,116.7% from the December 31st total of 7,800 shares. Based on an average daily trading volume, of 151,600 shares, the days-to-cover ratio is presently 0.6 days.

Sumitomo Trading Up 0.8 %

OTCMKTS:SSUMY traded up $0.17 during trading hours on Tuesday, hitting $21.50. 54,714 shares of the stock were exchanged, compared to its average volume of 72,536. The company's 50 day moving average is $21.32 and its two-hundred day moving average is $22.23. Sumitomo has a twelve month low of $19.00 and a twelve month high of $28.90. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $26.04 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last issued its earnings results on Thursday, October 31st. The conglomerate reported $0.71 EPS for the quarter. The company had revenue of $11.74 billion during the quarter. Sumitomo had a net margin of 4.97% and a return on equity of 7.38%. On average, sell-side analysts anticipate that Sumitomo will post 2.95 earnings per share for the current fiscal year.

About Sumitomo

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.