Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Expands By 537.9%

Nitto Denko Co. (OTCMKTS:NDEKY - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 18,500 shares, an increase of 537.9% from the April 30th total of 2,900 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily trading volume, of 59,400 shares, the days-to-cover ratio is currently 0.3 days.

Nitto Denko Trading Down 1.5%

OTCMKTS NDEKY traded down $0.28 on Friday, hitting $18.08. The company's stock had a trading volume of 30,573 shares, compared to its average volume of 48,049. Nitto Denko has a 52-week low of $12.80 and a 52-week high of $20.91. The company's 50-day simple moving average is $17.88 and its 200 day simple moving average is $17.73. The firm has a market cap of $12.78 billion, a P/E ratio of 15.61 and a beta of 0.86.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The technology company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.40). Nitto Denko had a return on equity of 12.60% and a net margin of 12.91%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.53 billion. On average, research analysts forecast that Nitto Denko will post 1.23 EPS for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.