Nitto Denko Corp. (OTCMKTS:NDEKY) Short Interest Update

Key Points

• Nitto Denko Corp. experienced a 37.8% decrease in short interest, with only 7,400 shares short sold as of July 31st.
• The company's stock price fell 2.2% to $22.28, with a trading volume of 19,487 shares, lower than its average of 46,442 shares.
• In its latest earnings report, Nitto Denko missed analyst expectations, reporting $0.32 earnings per share versus the expected $0.86.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 7,400 shares, adeclineof37.8% from the July 15th total of 11,900 shares. Based on an average daily volume of 39,100 shares, the short-interest ratio is currently 0.2 days. Approximately0.0% of the shares of the company are sold short. Approximately0.0% of the shares of the company are sold short. Based on an average daily volume of 39,100 shares, the short-interest ratio is currently 0.2 days.

Nitto Denko Stock Up 1.8%

NDEKY stock traded up $0.39 during midday trading on Friday, hitting $22.59. The company's stock had a trading volume of 22,529 shares, compared to its average volume of 79,651. The stock's 50-day moving average price is $20.11 and its 200 day moving average price is $19.04. Nitto Denko has a 1 year low of $14.13 and a 1 year high of $23.80. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 19.01 and a beta of 0.86.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.54). The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. As a group, equities analysts forecast that Nitto Denko will post 1.23 earnings per share for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.