Short Interest in Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) Decreases By 48.8%

Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 288 shares, a drop of 48.8% from the June 15th total of 563 shares. Based on an average daily trading volume, of 3,289 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Idemitsu Kosan Co.,Ltd. to a “hold” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Idemitsu Kosan Co.,Ltd. Stock Performance

IDKOY stock traded up $0.66 during midday trading on Wednesday, reaching $16.45. 2,869 shares of the company were exchanged, compared to its average volume of 3,382. Idemitsu Kosan Co.,Ltd. has a 1-year low of $12.30 and a 1-year high of $21.05. The stock’s 50-day simple moving average is $16.51 and its 200 day simple moving average is $17.35. The company has a market cap of $10.06 billion and a price-to-earnings ratio of 0.38.

About Idemitsu Kosan Co.,Ltd.

Idemitsu Kosan Co, Ltd. is a Japanese energy company primarily engaged in the refining of crude oil and the production of petroleum products. Established in 1911 by Sazo Idemitsu, the company has grown into one of Japan’s leading refiners, supplying gasoline, diesel, jet fuel and kerosene to both industrial and retail customers. Its core refining operations are supported by a network of domestic refineries that process a wide range of crude oils.

In addition to its downstream refining business, Idemitsu Kosan manufactures petrochemical feedstocks used in the production of plastics, synthetic rubbers and other chemical intermediates.