Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Sees Significant Growth in Short Interest

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 55,079 shares, an increase of 46.9% from the November 30th total of 37,486 shares. Based on an average daily volume of 144,364 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 144,364 shares, the short-interest ratio is currently 0.4 days.

Sumitomo Electric Industries Stock Down 4.0%

Shares of SMTOY stock opened at $40.20 on Monday. Sumitomo Electric Industries has a one year low of $12.12 and a one year high of $45.75. The stock has a fifty day moving average price of $38.80 and a 200 day moving average price of $30.24.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.

In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.