Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Sees Significant Increase in Short Interest

Key Points

• Short interest in Nippon Steel & Sumitomo Metal Corp. surged by 109.6% in August, reaching a total of 242,700 shares from 115,800 shares earlier in the month.
• The company reported earnings of ($0.43) per share, significantly missing the consensus estimate of $0.61 by a margin of ($1.04).
• Nippon Steel has a market capitalization of $24.31 billion and a current ratio of 1.06, indicating its liquidity position.

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY - Get Free Report) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 242,700 shares, a growth of 109.6% from the August 15th total of 115,800 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 138,800 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 138,800 shares, the short-interest ratio is currently 1.7 days. Currently, 0.0% of the shares of the stock are short sold.

Nippon Steel & Sumitomo Metal Stock Up 1.0%

NPSCY stock traded up $0.07 during midday trading on Friday, reaching $7.41. The stock had a trading volume of 123,146 shares, compared to its average volume of 98,774. The company's fifty day simple moving average is $6.93 and its 200 day simple moving average is $6.89. The company has a current ratio of 1.06, a quick ratio of 0.51 and a debt-to-equity ratio of 0.46. Nippon Steel & Sumitomo Metal has a 52-week low of $6.10 and a 52-week high of $8.00.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($1.04). The firm had revenue of $13.56 billion during the quarter, compared to analysts' expectations of $13.63 billion. Nippon Steel & Sumitomo Metal had a negative net margin of 0.42% and a negative return on equity of 0.61%.

About Nippon Steel & Sumitomo Metal

Nippon Steel Corporation engages in steelmaking and steel fabrication, engineering and construction, chemicals and materials, and system solutions businesses in Japan and internationally. The company offers steel plates, sheets, and slags; bar and rod materials; structural steel; pipes and tubes; titanium and stainless products; and railway, automotive, and machinery parts for applications in automotive, energy, infrastructure, and consumer electronics markets.