Furukawa Electric Co. (OTCMKTS:SMTOY)’s share price rose 2.2% on Monday . The stock traded as high as $11.63 and last traded at $11.63. Approximately 10 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,248 shares. The stock had previously closed at $11.38.
Separately, Daiwa Capital Markets upgraded Furukawa Electric from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 26th.
The firm’s 50 day moving average price is $11.66.
Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates in 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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