Short Interest in Nikon Corp. (OTCMKTS:NINOY) Rises By 675.0%

Key Points

• Nikon Corp. saw a 675.0% increase in short interest in September, rising from 400 to 3,100 shares, indicating a growing bearish sentiment among investors.
• Jefferies Financial Group downgraded Nikon's rating from "strong-buy" to "hold," reflecting a more cautious outlook as the consensus rating currently remains a "Hold."
• Nikon reported a quarterly earnings per share (EPS) of $0.20, surpassing expectations of $0.05, while revenue fell slightly short of consensus estimates with $1.07 billion generated during the quarter.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 3,100 shares, an increase of 675.0% from the September 15th total of 400 shares. Based on an average daily trading volume, of 6,800 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 6,800 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut Nikon from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold".

Nikon Price Performance

OTCMKTS:NINOY traded up $0.43 during trading hours on Friday, reaching $12.35. The company had a trading volume of 315 shares, compared to its average volume of 1,853. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $11.22 and a two-hundred day moving average of $10.33. Nikon has a one year low of $8.50 and a one year high of $13.07. The firm has a market capitalization of $4.12 billion, a PE ratio of 47.50 and a beta of 0.52.

Nikon (OTCMKTS:NINOY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. Nikon had a net margin of 1.85% and a return on equity of 1.99%. Analysts forecast that Nikon will post 0.44 earnings per share for the current year.

About Nikon

Nikon Corporation manufactures and sells optical instruments in Japan, North America, Europe, China, Thailand, and internationally. It operates through Imaging Products Business, Precision Equipment Business, Healthcare Business, Components Business, and Industrial equipment and Others segments. The Imaging Products Business segment provides digital SLR cameras, compact digital cameras, and interchangeable camera lenses.

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