Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Short Interest Update

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY – Get Rating) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 3,600 shares, a growth of 227.3% from the April 30th total of 1,100 shares. Based on an average daily volume of 23,000 shares, the days-to-cover ratio is currently 0.2 days.

SMTOY traded up $0.17 on Thursday, reaching $11.21. The company had a trading volume of 8,345 shares, compared to its average volume of 3,212. The business has a 50 day simple moving average of $11.20 and a 200 day simple moving average of $12.60. Sumitomo Electric Industries has a 52-week low of $10.21 and a 52-week high of $16.08.

About Sumitomo Electric Industries (Get Rating)

Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates through five segments: Automotive, Infocommunications, Electronics, Environment and Energy, and Industrial Materials and Others. 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 wires; aluminum bars/wires; spinel products; products for electronic devices; sintered parts; and EV quick-charger connector assemblies.

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