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.
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.
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