Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Declines By 38.9%

Nitto Denko Co. (OTCMKTS:NDEKY) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 10,700 shares, a drop of 38.9% from the June 30th total of 17,500 shares. Based on an average trading volume of 20,200 shares, the days-to-cover ratio is presently 0.5 days.

Nitto Denko Stock Down 0.2 %

Shares of OTCMKTS NDEKY traded down $0.10 on Friday, reaching $41.83. 12,130 shares of the company’s stock traded hands, compared to its average volume of 9,612. The business’s 50 day simple moving average is $39.99 and its two-hundred day simple moving average is $42.43. Nitto Denko has a 12 month low of $30.07 and a 12 month high of $48.58. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 16.98 and a beta of 0.93.

Nitto Denko (OTCMKTS:NDEKY) last announced its quarterly earnings data on Friday, April 26th. The technology company reported $0.50 earnings per share (EPS) for the quarter. Nitto Denko had a return on equity of 10.72% and a net margin of 11.16%. The business had revenue of $1.49 billion during the quarter. Analysts forecast that Nitto Denko will post 2.66 earnings per share 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.