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

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $4.53, but opened at $4.29. Nippon Steel & Sumitomo Metal shares last traded at $4.42, with a volume of 4,130 shares changing hands.

Nippon Steel & Sumitomo Metal Price Performance

The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of -222.00 and a beta of 0.64. 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 company has a 50 day simple moving average of $4.15 and a 200 day simple moving average of $3.81.

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, now known as Nippon Steel Corporation, is a major Japanese steel manufacturer. The company produces a broad range of steel products, including flat-rolled steel, plates, bars, wire products, rails, structural materials and specialty steel used in automobiles, construction, machinery, energy infrastructure and other industrial applications.

In addition to steelmaking, Nippon Steel provides related services and products through businesses involved in engineering and construction, chemicals and new materials, machinery and equipment, logistics, and information systems.