Shin-Etsu Chemical Co. (OTCMKTS:SHECY) Sees Significant Decline in Short Interest

Key Points

• Shin-Etsu Chemical Co. experienced a significant decrease in short interest, dropping 37.6% from 24,500 shares to 15,300 shares by the end of August.
• The company was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, indicating a bearish outlook from at least one analyst.
• Shin-Etsu reported $0.22 earnings per share for the last quarter, surpassing analyst expectations of $0.21, with revenues totaling $4.35 billion.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 15,300 shares, a decrease of 37.6% from the August 15th total of 24,500 shares. Based on an average trading volume of 790,400 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's shares are sold short. Approximately 0.0% of the company's shares are sold short. Based on an average trading volume of 790,400 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Shin-Etsu Chemical from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

Shin-Etsu Chemical Price Performance

Shares of OTCMKTS SHECY opened at $14.86 on Monday. The firm's 50-day moving average price is $15.38 and its 200-day moving average price is $15.17. Shin-Etsu Chemical has a 1-year low of $11.88 and a 1-year high of $21.74. The firm has a market capitalization of $58.99 billion, a P/E ratio of 16.89 and a beta of 1.36. The company has a current ratio of 6.48, a quick ratio of 4.81 and a debt-to-equity ratio of 0.06.

Shin-Etsu Chemical (OTCMKTS:SHECY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $4.35 billion during the quarter. Shin-Etsu Chemical had a net margin of 19.94% and a return on equity of 10.90%. Equities research analysts anticipate that Shin-Etsu Chemical will post 0.86 earnings per share for the current fiscal year.

Shin-Etsu Chemical Company Profile

Shin-Etsu Chemical Co, Ltd. provides infrastructure, electronics, and functional materials in Japan. It is also involved in processing and specialized related services. The company operates through Infrastructure Materials; Electronics Materials; Functional Materials; and Processing and Specialized Services segments.

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