Sumitomo Heavy (OTCMKTS:SOHVY) Shares Gap Up – Here’s Why

Sumitomo Heavy (OTCMKTS:SOHVY) gapped up prior to trading on Monday. The stock had previously closed at $7.45, but opened at $8.14. Sumitomo Heavy shares last traded at $7.97, with a volume of 2,016 shares.

Sumitomo Heavy Stock Performance

The company’s fifty day simple moving average is $9.05 and its 200 day simple moving average is $8.61. The stock has a market capitalization of $3.83 billion, a P/E ratio of 14.76 and a beta of 0.47. The company has a current ratio of 1.94, a quick ratio of 1.12 and a debt-to-equity ratio of 0.18.

Sumitomo Heavy (OTCMKTS:SOHVY) last released its quarterly earnings results on Friday, October 30th. The company reported $0.19 earnings per share for the quarter. Sumitomo Heavy had a net margin of 3.45% and a return on equity of 6.91%. The firm had revenue of $1.76 billion for the quarter.

Sumitomo Heavy Company Profile

Sumitomo Heavy Industries, Ltd. is a Japanese manufacturer of industrial machinery and equipment. Its products include plastic injection molding machines, precision gearboxes and motion-control systems, construction machinery such as excavators, and equipment for industrial production and energy applications.

The company traces its roots to a machinery repair shop established in 1888 to serve the Besshi copper mine. It has since expanded into a broad range of machinery and technology businesses, including industrial presses, material-handling systems, and equipment used in semiconductor manufacturing and medical applications.

Headquartered in Tokyo, Sumitomo Heavy Industries serves customers in Japan and international markets through its global business operations.