Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) Sees Large Drop in Short Interest

Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 100 shares, a drop of 99.4% from the February 29th total of 16,200 shares. Based on an average daily trading volume, of 93,200 shares, the days-to-cover ratio is currently 0.0 days.

Sumitomo Chemical Price Performance

Sumitomo Chemical stock traded down $0.34 during midday trading on Thursday, reaching $10.59. The company’s stock had a trading volume of 25,854 shares, compared to its average volume of 67,619. Sumitomo Chemical has a fifty-two week low of $9.69 and a fifty-two week high of $17.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.20. The firm has a market capitalization of $3.51 billion, a PE ratio of 1,103.03 and a beta of 0.62. The stock’s 50 day simple moving average is $10.66 and its 200 day simple moving average is $12.10.

Sumitomo Chemical (OTCMKTS:SOMMY) last issued its quarterly earnings data on Friday, February 2nd. The company reported ($0.69) earnings per share for the quarter. The business had revenue of $4.20 billion for the quarter. Sumitomo Chemical had a return on equity of 0.03% and a net margin of 0.02%.

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.