ITOCHU Co. (OTCMKTS:ITOCY) Sees Significant Drop in Short Interest

ITOCHU Co. (OTCMKTS:ITOCY) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,700 shares, a decline of 97.9% from the November 15th total of 130,600 shares. Based on an average trading volume of 78,600 shares, the days-to-cover ratio is currently 0.0 days.

ITOCHU Stock Performance

Shares of ITOCY stock traded up $0.97 on Wednesday, hitting $102.27. 20,982 shares of the stock traded hands, compared to its average volume of 39,787. The company’s fifty day moving average is $101.57 and its 200 day moving average is $99.82. ITOCHU has a 1-year low of $79.25 and a 1-year high of $116.50. The company has a market capitalization of $73.58 billion, a PE ratio of 13.69 and a beta of 0.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ITOCY. GAMMA Investing LLC lifted its stake in ITOCHU by 29.4% in the third quarter. GAMMA Investing LLC now owns 1,463 shares of the company’s stock valued at $157,000 after buying an additional 332 shares during the last quarter. Rhumbline Advisers boosted its stake in ITOCHU by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 11,001 shares of the company’s stock valued at $1,082,000 after purchasing an additional 535 shares during the period. Finally, First Horizon Advisors Inc. bought a new position in ITOCHU in the 2nd quarter worth about $28,000. 0.08% of the stock is owned by institutional investors and hedge funds.

About ITOCHU

ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company’s Textile segment produces and sells raw materials, threads, and textiles; and garments, home furnishings, and industrial materials, as well as trades in industrial textile and lifestyle products. Its Machinery segment engages in the plants, bridges, railways, and other infrastructure; power generation, transmission, transformation, and sale; water, environment and waste-related; ship trading; renewable and alternative energy; and waste recycling businesses.