Nitto Denko Corp. (OTCMKTS:NDEKY) Sees Large Decrease in Short Interest

Nitto Denko Corp. (OTCMKTS:NDEKY) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 86,296 shares, a decrease of 49.3% from the September 30th total of 170,224 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 223,050 shares, the days-to-cover ratio is presently 0.4 days.

Nitto Denko Stock Down 1.4%

NDEKY traded down $0.31 during trading hours on Friday, hitting $21.33. The stock had a trading volume of 61,445 shares, compared to its average volume of 74,509. The company’s fifty day simple moving average is $22.03 and its 200 day simple moving average is $21.08. Nitto Denko has a 1 year low of $17.75 and a 1 year high of $26.02. The stock has a market cap of $14.48 billion, a PE ratio of 15.92 and a beta of 0.83.

Nitto Denko (OTCMKTS:NDEKY) last released its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.87 billion. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. As a group, equities analysts expect that Nitto Denko will post 1.30 EPS for the current year.

About Nitto Denko

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.