Denso Corp. (OTCMKTS:DNZOY) Sees Significant Drop in Short Interest

Key Points

• Short interest plunged 81.9% in March to 9,953 shares, leaving the short-interest ratio at about 0.0 days and effectively 0.0% of shares shorted.
• Denso reported an earnings beat, with $0.34 EPS vs. $0.30 expected and revenue of $12.24 billion vs. $11.88 billion consensus, signaling stronger-than-expected quarterly results.
• The stock was trading near $12.02 with a market cap of $34.99 billion and a P/E of 13.07, and the analyst consensus is a "Hold" after recent rating changes including a Goldman Sachs downgrade to neutral.

Denso Corp. (OTCMKTS:DNZOY - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 9,953 shares, a decrease of 81.9% from the February 26th total of 55,103 shares. Based on an average daily volume of 466,741 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 466,741 shares, the short-interest ratio is currently 0.0 days.

Denso Stock Performance

Shares of OTCMKTS DNZOY traded up $0.05 during midday trading on Tuesday, reaching $12.02. 417,552 shares of the company traded hands, compared to its average volume of 140,921. The stock has a 50-day moving average price of $13.59 and a 200 day moving average price of $13.86. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 13.07 and a beta of 1.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.91 and a quick ratio of 1.28. Denso has a 52 week low of $10.96 and a 52 week high of $15.85.

Denso (OTCMKTS:DNZOY - Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. Denso had a return on equity of 7.23% and a net margin of 5.12%.The firm had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $11.88 billion. Sell-side analysts anticipate that Denso will post 1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on DNZOY. The Goldman Sachs Group lowered shares of Denso from a "strong-buy" rating to a "neutral" rating in a research note on Wednesday, January 7th. Zacks Research raised Denso from a "strong sell" rating to a "hold" rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold".

About Denso

Denso Corporation OTCMKTS: DNZOY is a global supplier of automotive technology, systems and components headquartered in Kariya, Aichi Prefecture, Japan. The company designs, manufactures and supplies a wide range of parts and systems for original equipment manufacturers (OEMs) and the aftermarket. Denso's offerings span thermal systems, powertrain control, electrification components, electronic modules, sensors and actuators, and vehicle safety and driver assistance technologies.

Key product areas include climate control and HVAC components, radiators and heat exchangers, engine and fuel-management systems, starters and alternators, electronic control units (ECUs), sensors, and a growing portfolio of electrification products such as inverters, battery-management systems and charging components.

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