Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Increases By 7,200.0%

Nitto Denko Co. (OTCMKTS:NDEKYGet Rating) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 14,600 shares, a growth of 7,200.0% from the August 15th total of 200 shares. Based on an average daily trading volume, of 40,000 shares, the days-to-cover ratio is currently 0.4 days.

Nitto Denko Price Performance

NDEKY opened at $31.56 on Wednesday. The stock has a 50-day moving average price of $31.83 and a 200-day moving average price of $33.67. The firm has a market cap of $9.45 billion, a PE ratio of 10.59 and a beta of 1.09. Nitto Denko has a 1 year low of $29.36 and a 1 year high of $44.24.

Nitto Denko (OTCMKTS:NDEKYGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The technology company reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $1.67 billion during the quarter. Nitto Denko had a return on equity of 12.73% and a net margin of 11.88%. As a group, sell-side analysts anticipate that Nitto Denko will post 3.37 EPS for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered Nitto Denko from a “neutral” rating to an “underweight” rating in a research report on Monday, July 11th.

Nitto Denko Company Profile

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Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, 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.

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