Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Declines By 86.7%

Nitto Denko Co. (OTCMKTS:NDEKY) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 7,400 shares, a drop of 86.7% from the January 15th total of 55,700 shares. Based on an average daily volume of 47,100 shares, the short-interest ratio is currently 0.2 days.

Nitto Denko Trading Up 3.3 %

NDEKY opened at $19.33 on Friday. The company has a fifty day simple moving average of $17.17 and a 200 day simple moving average of $24.46. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 16.13 and a beta of 0.89. Nitto Denko has a twelve month low of $12.80 and a twelve month high of $20.91.

Nitto Denko (OTCMKTS:NDEKY) last issued 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%. On average, analysts forecast that Nitto Denko will post 1.23 earnings per share 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.