Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Sees Significant Decrease in Short Interest

Key Points

• Short interest plunged 53.7% to 60,793 shares as of March 31, translating to a very low days-to-cover of 0.1 and effectively 0.0% of the company's stock reported shorted.
• Shares opened at $3.73 with a 52-week range of $3.50–$4.79, a market cap of $20.04 billion and a negative trailing P/E of -74.60.
• In the latest quarter the company reported EPS of $0.08 (missing the $0.09 consensus) and revenue of $16.73 billion versus the $17.13 billion estimate.

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY - Get Free Report) saw a large decline in short interest in March. As of March 31st, there was short interest totaling 60,793 shares, a decline of 53.7% from the March 15th total of 131,197 shares. Based on an average trading volume of 972,984 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company's stock are short sold.

Nippon Steel & Sumitomo Metal Trading Down 0.8%

OTCMKTS:NPSCY opened at $3.73 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.12 and a quick ratio of 0.53. Nippon Steel & Sumitomo Metal has a fifty-two week low of $3.50 and a fifty-two week high of $4.79. The stock's 50-day moving average is $3.97 and its two-hundred day moving average is $4.18. The stock has a market cap of $20.04 billion, a PE ratio of -74.60 and a beta of 0.71.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $16.73 billion during the quarter, compared to the consensus estimate of $17.13 billion.

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company's product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.