Konica Minolta Inc. (OTCMKTS:KNCAY) Sees Significant Decline in Short Interest

Key Points

• As of July 31, 2023, Konica Minolta (OTCMKTS:KNCAY) saw a significant decrease in short interest, dropping by 94.4% to just 100 shares, indicating a very low level of bearish sentiment among investors.
• The company's stock price is currently at $6.45, with a market cap of $1.59 billion, and it has reported a negative return on equity of 0.84% for the last quarter.
• In its recent earnings report, Konica Minolta reported an EPS of $0.12, surpassing expectations, with revenues totaling $1.74 billion, compared to analysts’ predictions of $253.67 billion.

Konica Minolta Inc. (OTCMKTS:KNCAY - Get Free Report) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 100 shares, adeclineof94.4% from the July 15th total of 1,800 shares. Currently,0.0% of the company's stock are sold short. Based on an average daily trading volume, of 1,300 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 1,300 shares, the days-to-cover ratio is currently 0.1 days. Currently,0.0% of the company's stock are sold short.

Konica Minolta Price Performance

Shares of KNCAY stock remained flat at $6.45 during trading on Tuesday. The stock has a 50 day moving average of $6.39 and a 200 day moving average of $6.42. The company has a quick ratio of 1.14, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. Konica Minolta has a 12 month low of $5.1550 and a 12 month high of $9.3020. The firm has a market cap of $1.59 billion, a PE ratio of -53.75 and a beta of 0.91.

Konica Minolta (OTCMKTS:KNCAY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $253.67 billion. Konica Minolta had a negative return on equity of 0.84% and a negative net margin of 0.40%. As a group, equities research analysts anticipate that Konica Minolta will post 0.05 earnings per share for the current fiscal year.

About Konica Minolta

Konica Minolta, Inc engages in digital workplace, professional print, healthcare, and industrial businesses in Japan, China, other Asian countries, the United States, Europe, and internationally. It develops, manufactures, and sells multi-functional peripherals, digital printing systems, and related consumables, as well as offers IT and printing solutions and services.