Denso Corp. (OTCMKTS:DNZOY) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 62.8% to 57,781 shares as of October 15, down from 155,296 shares at the end of September. Short interest represented virtually none of the company’s shares, with a 0.2-day short-interest ratio.
• Zacks Research upgraded Denso from “strong sell” to “hold,” while all three tracked analysts rate the stock Hold, resulting in a consensus Hold rating.
• Denso shares traded at $11.78, near the lower end of their 52-week range. In its latest quarter, the company reported $0.13 in EPS, missing estimates of $0.18, but revenue of $12.20 billion exceeded the $11.99 billion consensus.

Denso Corp. (OTCMKTS:DNZOY - Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 57,781 shares, a drop of 62.8% from the September 30th total of 155,296 shares. Based on an average daily volume of 347,881 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Denso from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Denso Stock Performance

Shares of OTCMKTS:DNZOY traded up $0.35 during midday trading on Thursday, reaching $11.78. The company had a trading volume of 16,973 shares, compared to its average volume of 161,884. The company has a current ratio of 2.12, a quick ratio of 1.44 and a debt-to-equity ratio of 0.19. The stock has a market cap of $34.28 billion, a P/E ratio of 11.43 and a beta of 0.95. Denso has a 52-week low of $11.17 and a 52-week high of $15.37. The company's 50 day moving average price is $11.92 and its 200 day moving average price is $12.37.

Denso (OTCMKTS:DNZOY - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). Denso had a net margin of 5.59% and a return on equity of 7.85%. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.99 billion. As a group, sell-side analysts anticipate that Denso will post 0.89 EPS for the current fiscal year.

Denso Company Profile

DENSO Corporation is a Japan-based global automotive supplier that develops and manufactures technologies and components for vehicle manufacturers and mobility customers. Its products support vehicle thermal management, electrification, powertrain systems, vehicle motion control, cockpit and connectivity functions, and advanced safety.

The company's offerings include air-conditioning and refrigeration systems, compressors, alternators, starters, fuel-injection and engine-management components, electric motors, inverters, sensors, electronic control units, and driver-assistance technologies.

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