Short Interest in Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) Decreases By 86.5%

Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,700 shares, a decrease of 86.5% from the August 15th total of 12,600 shares. Based on an average daily trading volume, of 54,700 shares, the short-interest ratio is currently 0.0 days.

Separately, Zacks Investment Research downgraded shares of Sumitomo Chemical from a “buy” rating to a “hold” rating in a research note on Tuesday, July 20th.

Shares of OTCMKTS:SOMMY traded down $0.26 during trading hours on Wednesday, reaching $27.29. The stock had a trading volume of 20,268 shares, compared to its average volume of 11,535. Sumitomo Chemical has a 1 year low of $16.18 and a 1 year high of $28.50. The firm’s 50 day moving average is $25.75 and its 200-day moving average is $26.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 1.45. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 21.49 and a beta of 1.06.

Sumitomo Chemical (OTCMKTS:SOMMY) last announced its quarterly earnings data on Tuesday, August 3rd. The company reported $0.99 EPS for the quarter. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.27 billion. Analysts forecast that Sumitomo Chemical will post 3.36 EPS for the current year.

About Sumitomo Chemical

Sumitomo Chemical Co, Ltd. engages in the manufacture and sale of chemicals. It operates through the following segments: Petrochemicals, Energy and Functional Materials Sector, IT-related Chemicals Sector, Health and Crop Sciences Sector, Pharmaceuticals Sector and Others. The Petrochemicals segment consists of synthetic resin, rubber and other resin processed products.

Further Reading: How is net asset value different from market price?

Receive News & Ratings for Sumitomo Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sumitomo Chemical and related companies with MarketBeat.com's FREE daily email newsletter.