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

Shares of Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) gapped down before the market opened on Wednesday. The stock had previously closed at $4.14, but opened at $3.90. Nippon Steel & Sumitomo Metal shares last traded at $4.21, with a volume of 75,909 shares.

Nippon Steel & Sumitomo Metal Stock Down 2.2%

The company has a market capitalization of $21.92 billion, a P/E ratio of -203.95 and a beta of 0.61. The company has a quick ratio of 0.81, a current ratio of 1.71 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $4.34 and a 200-day simple moving average of $3.86.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $18.02 billion during the quarter, compared to analyst estimates of $16.70 billion.

Nippon Steel & Sumitomo Metal Company Profile

Nippon Steel & Sumitomo Metal Corporation was a major Japanese steel producer formed in 2012 through the merger of Nippon Steel Corporation and Sumitomo Metal Industries. On April 1, 2019, the company changed its name to Nippon Steel Corporation. The company’s American depositary shares traded under the symbol NPSCY.

Nippon Steel produces a broad range of steel products, including flat products, plates, bars, wire rods, rails, structural steel, steel pipe and tubing, stainless steel, and electrical steel.