Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Short Interest Update

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 25,866 shares, a drop of 68.4% from the April 15th total of 81,909 shares. Based on an average daily trading volume, of 164,037 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Sumitomo Electric Industries Stock Performance

OTCMKTS SMTOY opened at $70.11 on Friday. The company has a market capitalization of $54.68 billion, a PE ratio of 22.69 and a beta of 0.97. The company has a 50-day simple moving average of $64.19 and a 200 day simple moving average of $51.78. Sumitomo Electric Industries has a 52-week low of $17.95 and a 52-week high of $83.12.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SMTOY shares. Nomura upgraded shares of Sumitomo Electric Industries to a “strong-buy” rating in a report on Wednesday, April 1st. Jefferies Financial Group upgraded shares of Sumitomo Electric Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Sumitomo Electric Industries Company Profile

Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.

In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.