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

Key Points

• Nitto Denko Corp. experienced a significant increase in short interest, rising by 525.7% in August to a total of 46,300 shares compared to 7,400 shares at the end of July.
• The company's stock price reached $22.61 on Tuesday, with a 52-week range between $14.13 and $23.80.
• Nitto Denko reported $0.32 earnings per share for the last quarter, underperforming against analyst estimates of $0.86, while revenue slightly surpassed expectations at $1.66 billion.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 46,300 shares, agrowthof525.7% from the July 31st total of 7,400 shares. Based on an average daily volume of 210,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 210,000 shares, the days-to-cover ratio is currently 0.2 days.

Nitto Denko Price Performance

OTCMKTS:NDEKY traded up $0.11 on Tuesday, reaching $22.61. 33,351 shares of the company's stock were exchanged, compared to its average volume of 78,811. Nitto Denko has a 52 week low of $14.13 and a 52 week high of $23.80. The stock has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $19.21.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last issued its earnings results on Monday, July 28th. The technology company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.54). The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.64 billion. Equities analysts forecast that Nitto Denko will post 1.23 EPS for the current year.

Nitto Denko Company Profile

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.

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