Short Interest in Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Declines By 15.4%

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 3,300 shares, a decrease of 15.4% from the December 31st total of 3,900 shares. Based on an average daily trading volume, of 16,900 shares, the days-to-cover ratio is currently 0.2 days.

Sumitomo Electric Industries Stock Performance

Sumitomo Electric Industries stock traded up $0.15 during mid-day trading on Friday, reaching $18.45. 3,503 shares of the company’s stock were exchanged, compared to its average volume of 11,380. The business’s fifty day simple moving average is $18.31 and its 200 day simple moving average is $16.80. Sumitomo Electric Industries has a one year low of $12.80 and a one year high of $21.51.

Sumitomo Electric Industries (OTCMKTS:SMTOY) last released its earnings results on Friday, November 1st. The company reported $0.37 EPS for the quarter. The firm had revenue of $7.61 billion during the quarter.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates through Automotive, Infocommunications, Electronics, Environment and Energy, and Industrial Materials and Others segments. The company offers wiring harnesses and electrical components; steel cords for tire reinforcement; steel wires for springs; wiring materials; optical lenses for infrared devices; abrasion-resistant parts/materials; heat shrink and heat-resistant tubing/tapes; magnet and aluminum bars/wires; products for electronic devices; sintered parts; and EV quick-charger connector assemblies.