Short Interest in Denso Corp. (OTCMKTS:DNZOY) Grows By 111.7%

Key Points

• Short interest grew 111.7% — short interest rose to 76,326 shares as of April 15 (up from 36,051 on March 31), though the days-to-cover is just 0.1 based on average daily volume and reported shorted shares represent 0.0% of the company's shares.
• Analyst sentiment is muted — Goldman Sachs downgraded Denso to "neutral" and Zacks moved it to "hold," leaving an average MarketBeat rating of "Hold" from three analysts.
• Recent results and valuation — Denso beat quarterly estimates with $0.34 EPS on $12.24B revenue, and the stock trades near $11.65 (down 0.9%) with a market cap of about $33.9B and a PE of 12.66.

Denso Corp. (OTCMKTS:DNZOY - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 76,326 shares, an increase of 111.7% from the March 31st total of 36,051 shares. Based on an average daily trading volume, of 510,560 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company's shares are short sold.

Analysts Set New Price Targets

Several research analysts recently commented on DNZOY shares. The Goldman Sachs Group downgraded shares of Denso from a "strong-buy" rating to a "neutral" rating in a research note on Wednesday, January 7th. Zacks Research raised shares of Denso from a "strong sell" rating to a "hold" rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Denso Trading Down 0.9%

OTCMKTS:DNZOY traded down $0.10 during trading hours on Friday, hitting $11.65. The company had a trading volume of 142,575 shares, compared to its average volume of 215,806. The company has a market capitalization of $33.91 billion, a PE ratio of 12.66 and a beta of 1.05. The stock has a 50-day moving average price of $12.73 and a 200 day moving average price of $13.43. Denso has a 52 week low of $11.56 and a 52 week high of $15.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.91 and a quick ratio of 1.28.

Denso (OTCMKTS:DNZOY - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $12.24 billion for the quarter, compared to analysts' expectations of $11.88 billion. Denso had a net margin of 5.12% and a return on equity of 7.23%. On average, equities research analysts predict that Denso will post 1.01 EPS for the current fiscal year.

Denso Company Profile

Denso Corporation OTCMKTS: DNZOY is a global supplier of automotive technology, systems and components headquartered in Kariya, Aichi Prefecture, Japan. The company designs, manufactures and supplies a wide range of parts and systems for original equipment manufacturers (OEMs) and the aftermarket. Denso's offerings span thermal systems, powertrain control, electrification components, electronic modules, sensors and actuators, and vehicle safety and driver assistance technologies.

Key product areas include climate control and HVAC components, radiators and heat exchangers, engine and fuel-management systems, starters and alternators, electronic control units (ECUs), sensors, and a growing portfolio of electrification products such as inverters, battery-management systems and charging components.

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