Nitto Denko Co. (OTCMKTS:NDEKY) Sees Large Drop in Short Interest

Nitto Denko Co. (OTCMKTS:NDEKY) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 27,300 shares, a decline of 42.9% from the February 28th total of 47,800 shares. Based on an average trading volume of 53,800 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are sold short.

Nitto Denko Price Performance

Shares of OTCMKTS NDEKY traded down $0.82 during trading on Friday, hitting $18.64. The stock had a trading volume of 18,478 shares, compared to its average volume of 55,745. The firm has a fifty day moving average of $18.98 and a two-hundred day moving average of $20.05. The company has a market capitalization of $13.17 billion, a PE ratio of 17.19 and a beta of 0.84. Nitto Denko has a 12 month low of $12.80 and a 12 month high of $20.91.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.27 earnings per share (EPS) for the quarter. Nitto Denko had a net margin of 12.91% and a return on equity of 12.60%. On average, equities analysts expect that Nitto Denko will post 1.23 earnings per share for the current fiscal year.

Nitto Denko Company Profile

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.