Nitto Denko Corp. (OTCMKTS:NDEKY) Sees Significant Decline in Short Interest

Nitto Denko Corp. (OTCMKTS:NDEKY) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 10,741 shares, a drop of 53.5% from the December 31st total of 23,089 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 77,763 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 77,763 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised Nitto Denko from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Nitto Denko has an average rating of “Strong Buy”.

Nitto Denko Trading Down 2.1%

NDEKY stock opened at $22.22 on Thursday. The firm has a 50 day moving average of $23.86 and a 200-day moving average of $23.44. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 16.83 and a beta of 0.88. Nitto Denko has a 12-month low of $15.32 and a 12-month high of $26.48.

Nitto Denko (OTCMKTS:NDEKY) last released its quarterly earnings data on Monday, January 26th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.64 billion. Nitto Denko had a return on equity of 12.78% and a net margin of 13.14%. Sell-side analysts forecast that Nitto Denko will post 1.23 earnings per share for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation, trading over‐the‐counter in the U.S. under the symbol NDEKY, is a Japan‐based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.