Hoya Corp. (OTCMKTS:HOCPY) Short Interest Down 80.3% in August

Key Points

• Short interest in Hoya Corp. has dropped by 80.3%, from 39,500 shares at the end of July to 7,800 shares by August 15th.
• The company's recent quarterly earnings report showed earnings per share of $1.05, surpassing estimates, with revenue of $1.53 billion.
• Multiple equities research analysts have upgraded Hoya Corp. to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy."

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 7,800 shares, adecreaseof80.3% from the July 31st total of 39,500 shares. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

HOCPY has been the subject of several analyst reports. Nomura Securities upgraded shares of Hoya to a "strong-buy" rating in a research note on Monday, August 18th. Erste Group Bank raised shares of Hoya from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Finally, The Goldman Sachs Group raised shares of Hoya from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of "Strong Buy".

Hoya Stock Performance

Shares of OTCMKTS:HOCPY traded up $4.80 on Friday, reaching $138.50. 16,690 shares of the company's stock were exchanged, compared to its average volume of 16,194. The firm has a market capitalization of $47.52 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 2.92 and a beta of 0.94. Hoya has a fifty-two week low of $97.49 and a fifty-two week high of $148.27. The business's 50-day moving average is $126.68 and its two-hundred day moving average is $120.11. The company has a quick ratio of 4.46, a current ratio of 5.19 and a debt-to-equity ratio of 0.03.

Hoya (OTCMKTS:HOCPY - Get Free Report) last issued its earnings results on Friday, August 1st. The technology company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.47 billion. Hoya had a net margin of 23.57% and a return on equity of 21.01%. As a group, equities research analysts forecast that Hoya will post 3.66 EPS for the current year.

Hoya Company Profile

HOYA Corporation, a med-tech company, provides high-tech and medical products worldwide. It operates through three segments: Life Care, Telecommunication, and Other. The company offers life care products, including eyeglass and contact lenses; medical endoscopes; intraocular lenses; laparoscopic surgical instruments; automatic endoscope cleaning equipment; and other medical related products, such as prosthetic ceramic fillers and metallic implants for orthopedics.