Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Up – Here’s What Happened

Shares of Sumitomo Heavy (OTCMKTS:SOHVY) gapped up prior to trading on Thursday . The stock had previously closed at $8.1250, but opened at $9.79. Sumitomo Heavy shares last traded at $9.79, with a volume of 513 shares trading hands.

Sumitomo Heavy Stock Up 22.8%

The stock has a 50-day moving average price of $8.15 and a 200-day moving average price of $8.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.92 and a quick ratio of 1.12. The company has a market capitalization of $4.71 billion, a P/E ratio of 17.48 and a beta of 0.40.

Sumitomo Heavy (OTCMKTS:SOHVY) last released its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter. Sumitomo Heavy had a net margin of 3.59% and a return on equity of 6.15%. The business had revenue of $1.87 billion during the quarter.

Sumitomo Heavy Company Profile

Sumitomo Heavy Industries, Ltd. (OTCMKTS: SOHVY) is a Japanese multinational manufacturer specializing in a broad range of industrial machinery and heavy equipment. Headquartered in Tokyo, the company operates as a core member of the Sumitomo Group, a major keiretsu with roots dating back to the early Meiji era. Sumitomo Heavy serves diverse markets by developing and producing advanced systems for material processing, energy generation, environmental management and transportation.

The company’s product portfolio encompasses industrial machinery such as metal‐forming presses, injection molding machines and power transmission systems.