Itochu Corp. (OTCMKTS:ITOCY) Sees Significant Increase in Short Interest

Itochu Corp. (OTCMKTS:ITOCY) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 171,350 shares, an increase of 92.6% from the June 30th total of 88,985 shares. Based on an average daily trading volume, of 878,582 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Itochu Stock Performance

Shares of OTCMKTS ITOCY traded down $0.14 during trading on Friday, reaching $12.57. The stock had a trading volume of 199,898 shares, compared to its average volume of 473,803. Itochu has a one year low of $10.36 and a one year high of $15.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.32. The stock has a market cap of $99.65 billion, a PE ratio of 14.13 and a beta of 0.64. The firm’s 50 day moving average price is $11.73 and its two-hundred day moving average price is $12.59.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $24.49 billion for the quarter, compared to the consensus estimate of $28.52 billion. On average, research analysts forecast that Itochu will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ITOCY. OLD National Bancorp IN grew its position in shares of Itochu by 898.1% during the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Itochu in the fourth quarter valued at approximately $279,000. Confluence Investment Management LLC grew its holdings in shares of Itochu by 1.1% during the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Aristotle Capital Management LLC grew its holdings in shares of Itochu by 897.0% during the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after purchasing an additional 105,505 shares during the last quarter. 0.08% of the stock is owned by institutional investors and hedge funds.

About Itochu

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.