Sumitomo Chemcl (OTCMKTS:SOMMY) Sees Large Volume Increase – Still a Buy?

Shares of Sumitomo Chemcl (OTCMKTS:SOMMY) saw strong trading volume on Thursday . 10,111 shares were traded during trading, an increase of 410% from the previous session’s volume of 1,982 shares.The stock last traded at $18.75 and had previously closed at $17.95.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Sumitomo Chemcl to a “hold” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Sumitomo Chemcl Stock Performance

The firm’s 50-day moving average price is $17.06 and its 200-day moving average price is $16.85. The stock has a market cap of $6.24 billion, a P/E ratio of 8.89 and a beta of 0.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.50 and a quick ratio of 0.92.

About Sumitomo Chemcl

Sumitomo Chemical Co, Ltd. is a Japan-based diversified chemical company that develops and manufactures products for a broad range of industries. Its businesses include petrochemicals and plastics, synthetic resins, industrial chemicals, coatings, and functional materials used in manufacturing and consumer applications.

The company also supplies materials for information and communications technology, including semiconductor-related and display materials, as well as agricultural chemicals, crop protection products, and household insect-control products.