Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) Sees Significant Growth in Short Interest

Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 6,300 shares, an increase of 43.2% from the February 28th total of 4,400 shares. Based on an average daily volume of 7,600 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.0% of the shares of the stock are sold short.

Sumitomo Chemical Price Performance

Shares of OTCMKTS SOMMY traded down $0.25 during midday trading on Tuesday, hitting $12.07. 6,398 shares of the company’s stock were exchanged, compared to its average volume of 8,038. Sumitomo Chemical has a 12-month low of $9.55 and a 12-month high of $14.99. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -3.34 and a beta of 0.43. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The business’s fifty day moving average price is $11.52 and its two-hundred day moving average price is $12.14.

Sumitomo Chemical (OTCMKTS:SOMMY) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.71 earnings per share (EPS) for the quarter. Sumitomo Chemical had a negative return on equity of 15.28% and a negative net margin of 7.00%.

About Sumitomo Chemical

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.