Nitto Denko Corp. (OTCMKTS:NDEKY) Sees Significant Decrease in Short Interest

Key Points

• The short interest for Nitto Denko Corp. decreased by 50.1% in August, dropping to 23,100 shares from 46,300 shares.
• The company's stock is currently trading at $23.35 with a market cap of $16.50 billion and a price-to-earnings ratio of 20.17.
• Nitto Denko reported a quarterly earnings loss of $0.32 EPS, missing the consensus estimate of $0.86 EPS, despite slightly exceeding revenue expectations.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 23,100 shares, a decrease of 50.1% from the August 15th total of 46,300 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 31,900 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 31,900 shares, the short-interest ratio is currently 0.7 days. Approximately 0.0% of the company's stock are sold short.

Nitto Denko Stock Down 0.5%

Shares of OTCMKTS NDEKY traded down $0.13 during trading on Friday, reaching $23.27. The company had a trading volume of 10,139 shares, compared to its average volume of 42,629. The stock has a market cap of $16.45 billion, a PE ratio of 19.75 and a beta of 0.85. Nitto Denko has a 12-month low of $14.13 and a 12-month high of $24.07. The business's 50-day moving average is $21.85 and its 200 day moving average is $19.53.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The technology company reported $0.32 EPS for the quarter, missing analysts' consensus estimates 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. On average, analysts anticipate that Nitto Denko will post 1.23 earnings per share for the current 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.