Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Sees Significant Increase in Short Interest

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 9,000 shares, an increase of 55.2% from the March 31st total of 5,800 shares. Based on an average daily trading volume, of 14,200 shares, the days-to-cover ratio is currently 0.6 days.

Sumitomo Electric Industries Price Performance

Shares of OTCMKTS SMTOY traded up $0.12 during midday trading on Monday, reaching $15.32. The company’s stock had a trading volume of 8,436 shares, compared to its average volume of 12,897. Sumitomo Electric Industries has a fifty-two week low of $10.24 and a fifty-two week high of $16.33. The stock has a 50 day simple moving average of $15.22 and a 200-day simple moving average of $13.42.

Sumitomo Electric Industries Company Profile

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.