Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Up – Here’s Why

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.43, but opened at $3.59. Nippon Steel & Sumitomo Metal shares last traded at $3.51, with a volume of 168,212 shares changing hands.

Nippon Steel & Sumitomo Metal Stock Performance

The firm’s 50-day moving average is $3.54 and its 200 day moving average is $3.84. The stock has a market cap of $18.81 billion, a PE ratio of -29.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.78.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $17.89 billion for the quarter, compared to analyst estimates of $18.20 billion.

Nippon Steel & Sumitomo Metal Company Profile

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company’s product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.