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

Key Points

• Shin-Etsu Chemical Co. experienced a dramatic increase in short interest, rising from 28,400 shares to 167,600 shares, marking a 490.1% increase as of September 30th.
• The company's recent quarterly earnings surpassed expectations, reporting $0.22 EPS against the consensus estimate of $0.21, with a net margin of 19.94% and revenue of $4.35 billion.
• Analysts have downgraded Shin-Etsu Chemical's stock rating from "hold" to "strong sell," reflecting growing concerns about the stock's performance.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 167,600 shares, an increase of 490.1% from the September 15th total of 28,400 shares. Based on an average daily trading volume, of 388,300 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 388,300 shares, the days-to-cover ratio is currently 0.4 days.

Shin-Etsu Chemical Price Performance

Shin-Etsu Chemical stock opened at $16.45 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.81 and a current ratio of 6.48. The firm has a market cap of $65.31 billion, a P/E ratio of 18.69 and a beta of 1.42. The business's fifty day moving average is $15.73 and its two-hundred day moving average is $15.38. Shin-Etsu Chemical has a 52 week low of $11.88 and a 52 week high of $20.61.

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

Wall Street Analyst Weigh In

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

About Shin-Etsu Chemical

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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