Short Interest in Hoya Corp. (OTCMKTS:HOCPY) Drops By 80.3%

Hoya Corp. (OTCMKTS:HOCPY) saw a significant drop in short interest in August. As of August 15th, there was short interest totaling 7,800 shares, adropof80.3% from the July 31st total of 39,500 shares. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is currently 0.2 days.

Hoya Stock Performance

OTCMKTS HOCPY opened at $129.89 on Wednesday. Hoya has a 52-week low of $97.49 and a 52-week high of $148.27. The company has a fifty day moving average of $125.65 and a 200-day moving average of $119.92. The company has a market capitalization of $44.57 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.73 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.46 and a current ratio of 5.19.

Hoya (OTCMKTS:HOCPY) last posted its quarterly earnings results on Friday, August 1st. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. Hoya had a net margin of 23.57% and a return on equity of 21.01%. As a group, equities research analysts predict that Hoya will post 3.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Erste Group Bank upgraded shares of Hoya from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. The Goldman Sachs Group upgraded shares of Hoya from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 23rd. Finally, Nomura Securities upgraded shares of Hoya to a “strong-buy” rating in a research note on Monday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

About Hoya

HOYA Corporation, a med-tech company, provides high-tech and medical products worldwide. It operates through three segments: Life Care, Telecommunication, and Other. The company offers life care products, including eyeglass and contact lenses; medical endoscopes; intraocular lenses; laparoscopic surgical instruments; automatic endoscope cleaning equipment; and other medical related products, such as prosthetic ceramic fillers and metallic implants for orthopedics.