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

Nitto Denko Corp. (OTCMKTS:NDEKY) was the target of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 17,955 shares, a decrease of 79.2% from the October 15th total of 86,296 shares. Based on an average daily trading volume, of 60,621 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company’s shares are short sold.

Nitto Denko Stock Performance

NDEKY traded up $0.07 during trading on Thursday, reaching $21.98. 7,198 shares of the company’s stock were exchanged, compared to its average volume of 101,862. The company’s fifty day moving average price is $22.02 and its 200-day moving average price is $21.00. Nitto Denko has a fifty-two week low of $17.75 and a fifty-two week high of $26.00. The firm has a market capitalization of $14.57 billion, a PE ratio of 16.40 and a beta of 0.82.

Nitto Denko (OTCMKTS:NDEKY) last issued its earnings results 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. Research analysts forecast that Nitto Denko will post 1.36 earnings per share for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation is a Japanese materials manufacturer headquartered in Osaka. Founded in 1918, the company began by producing electrical insulation materials and has since expanded into a range of specialty products used in industrial and consumer applications. Its products include adhesive tapes, films and other materials for electronics and semiconductor manufacturing, optical films used in displays, and membrane products for water treatment and gas separation. Nitto Denko also develops medical and healthcare materials, including transdermal drug-delivery products.