Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Increases By 817.6%

Nitto Denko Co. (OTCMKTS:NDEKY) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 67,900 shares, an increase of 817.6% from the January 31st total of 7,400 shares. Based on an average daily trading volume, of 290,200 shares, the short-interest ratio is currently 0.2 days.

Nitto Denko Price Performance

Shares of NDEKY traded down $0.07 during midday trading on Friday, reaching $19.70. 18,393 shares of the stock were exchanged, compared to its average volume of 73,505. The business’s 50-day moving average price is $17.85 and its 200 day moving average price is $23.10. Nitto Denko has a twelve month low of $12.80 and a twelve month high of $20.91. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 16.57 and a beta of 0.89.

Nitto Denko (OTCMKTS:NDEKY) last posted its earnings results on Monday, January 27th. The technology company reported $0.27 EPS for the quarter. Nitto Denko had a return on equity of 12.60% and a net margin of 12.91%. As a group, equities research analysts expect that Nitto Denko will post 1.23 earnings per share for the current fiscal year.

About Nitto Denko

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.