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

Nitto Denko Co. (OTCMKTS:NDEKY) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 27,300 shares, a drop 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 currently 0.5 days. Currently, 0.0% of the company’s shares are sold short.

Nitto Denko Trading Up 0.6 %

Shares of Nitto Denko stock opened at $19.46 on Friday. Nitto Denko has a 12-month low of $12.80 and a 12-month high of $20.91. The company has a market cap of $13.75 billion, a P/E ratio of 17.19 and a beta of 0.84. The company’s fifty day simple moving average is $18.95 and its two-hundred day simple moving average is $20.32.

Nitto Denko (OTCMKTS:NDEKY) last announced its quarterly earnings results 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%. Analysts predict that Nitto Denko will post 1.23 EPS 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.