Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) Sees Large Decrease in Short Interest

by · The Cerbat Gem

Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,100 shares, a drop of 78.0% from the August 31st total of 5,000 shares. Based on an average daily trading volume, of 8,800 shares, the days-to-cover ratio is currently 0.1 days.

Sumitomo Chemical Stock Up 0.9 %

Shares of OTCMKTS SOMMY traded up $0.13 during mid-day trading on Friday, hitting $14.45. 2,327 shares of the stock traded hands, compared to its average volume of 4,192. The stock has a fifty day moving average price of $13.70 and a 200-day moving average price of $11.81. The company has a current ratio of 1.21, a quick ratio of 0.69 and a debt-to-equity ratio of 0.78. Sumitomo Chemical has a 52 week low of $9.55 and a 52 week high of $14.99.

Sumitomo Chemical (OTCMKTS:SOMMY – Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.48 EPS for the quarter. Sumitomo Chemical had a negative net margin of 10.32% and a negative return on equity of 18.97%. The firm had revenue of $3.93 billion for the quarter.

About Sumitomo Chemical

(Get Free Report)

Sumitomo Chemical Company, Limited engages in Chemicals & Plastics, energy and functional materials, IT-related chemicals, health and crop sciences, pharmaceuticals, and other businesses worldwide. Its Essential Chemicals & Plastics segment offers synthetic resins, such as polyethylene, polypropylene, and polymethyl methacrylate resins; raw materials for synthetic fibers; and various industrial chemicals.

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