Short Interest in KDDI Corporation Unsponsored ADR (OTCMKTS:KDDIY) Declines By 64.7%

Key Points

• Short interest in KDDIY fell 64.7% to 43,251 shares as of August 31, down from 122,588 shares two weeks earlier. Short interest now represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.2.
• Analyst sentiment improved, with Zacks Research upgrading KDDI from “strong sell” to “hold” and Erste Group Bank raising its rating to “strong buy.” The consensus rating is currently “Buy.”
• KDDI reported quarterly earnings of $0.32 per share, beating estimates by $0.04, while revenue of $9.40 billion also exceeded expectations. Shares recently traded at $19.78, near the company’s 52-week high of $20.17.

KDDI Corporation Unsponsored ADR (OTCMKTS:KDDIY - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 43,251 shares, a decrease of 64.7% from the August 15th total of 122,588 shares. Based on an average daily volume of 227,110 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KDDIY shares. Zacks Research raised shares of KDDI from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Erste Group Bank upgraded shares of KDDI to a "strong-buy" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

KDDI Stock Performance

KDDIY traded up $0.34 during midday trading on Friday, reaching $19.78. The company had a trading volume of 114,994 shares, compared to its average volume of 122,507. The business has a 50-day moving average of $18.13 and a two-hundred day moving average of $17.21. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.46. KDDI has a 1 year low of $12.95 and a 1 year high of $20.17. The company has a market cap of $79.27 billion, a P/E ratio of 15.70, a P/E/G ratio of 2.09 and a beta of 0.05.

KDDI (OTCMKTS:KDDIY - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. The company had revenue of $9.40 billion for the quarter, compared to analysts' expectations of $9.31 billion. As a group, equities research analysts predict that KDDI will post 1.26 earnings per share for the current fiscal year.

About KDDI

KDDI Corporation is a Japanese telecommunications and information technology company headquartered in Tokyo. The company provides mobile communications, fixed-line telecommunications, broadband internet, and related digital services to consumers, businesses, and public-sector customers. Its principal consumer brands include au, UQ mobile, and povo.

KDDI also offers enterprise services such as network connectivity, cloud computing, data centers, cybersecurity, systems integration, and communications solutions for businesses.

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