Short Interest in Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Declines By 73.0%

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) was the recipient of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 77,375 shares, a drop of 73.0% from the May 14th total of 286,608 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 624,379 shares, the days-to-cover ratio is presently 0.1 days.

Nippon Steel & Sumitomo Metal Price Performance

Nippon Steel & Sumitomo Metal stock traded up $0.05 during mid-day trading on Friday, hitting $3.50. 90,481 shares of the company were exchanged, compared to its average volume of 302,248. The company has a quick ratio of 0.53, a current ratio of 1.12 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $3.61 and a 200 day moving average of $3.90. Nippon Steel & Sumitomo Metal has a 1-year low of $3.38 and a 1-year high of $4.79. The company has a market capitalization of $18.81 billion, a PE ratio of -29.17 and a beta of 0.66.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $17.89 billion for the quarter, compared to analyst estimates of $18.20 billion.

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company’s product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.