Short Interest in Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Increases By 37.2%

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 12,900 shares, an increase of 37.2% from the August 15th total of 9,400 shares. Based on an average daily trading volume, of 19,400 shares, the days-to-cover ratio is currently 0.7 days.

Sumitomo Electric Industries Stock Down 0.8 %

Sumitomo Electric Industries stock traded down $0.13 during midday trading on Monday, hitting $15.99. 10,700 shares of the company were exchanged, compared to its average volume of 12,224. The business has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $15.52. Sumitomo Electric Industries has a fifty-two week low of $10.24 and a fifty-two week high of $17.60.

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.