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

Key Points

• Nippon Steel & Sumitomo Metal Corp. experienced a significant 28.9% decrease in short interest, dropping to 172,600 shares as of September 15th.
• The company reported a loss of ($0.43) per share in its last quarterly earnings, missing analysts' expectations of $0.61 by a substantial margin.
• Nippon Steel's stock is currently priced at $4.18, with a market capitalization of $22.46 billion and a negative PE ratio of -232.22.

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY - Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 172,600 shares, a decrease of 28.9% from the August 31st total of 242,700 shares. Based on an average daily volume of 258,900 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 258,900 shares, the days-to-cover ratio is presently 0.7 days.

Nippon Steel & Sumitomo Metal Price Performance

OTCMKTS NPSCY opened at $4.18 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.06 and a debt-to-equity ratio of 0.46. Nippon Steel & Sumitomo Metal has a 52 week low of $3.66 and a 52 week high of $4.80. The firm's 50-day simple moving average is $6.93 and its two-hundred day simple moving average is $6.77. The company has a market cap of $22.46 billion, a PE ratio of -232.22 and a beta of 0.71.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($1.04). The firm had revenue of $13.56 billion during the quarter, compared to analyst estimates of $13.63 billion. Nippon Steel & Sumitomo Metal had a negative return on equity of 0.61% and a negative net margin of 0.42%.

Nippon Steel & Sumitomo Metal Company Profile

Nippon Steel Corporation engages in steelmaking and steel fabrication, engineering and construction, chemicals and materials, and system solutions businesses in Japan and internationally. The company offers steel plates, sheets, and slags; bar and rod materials; structural steel; pipes and tubes; titanium and stainless products; and railway, automotive, and machinery parts for applications in automotive, energy, infrastructure, and consumer electronics markets.

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