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

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

Nitto Denko Trading Up 3.3 %

Shares of NDEKY stock opened at $19.33 on Friday. Nitto Denko has a 12-month low of $12.80 and a 12-month high of $20.91. The business’s 50 day moving average is $17.17 and its two-hundred day moving average is $24.46. The company has a market capitalization of $13.66 billion, a P/E ratio of 16.13 and a beta of 0.89.

Nitto Denko (OTCMKTS:NDEKY) last released 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, research analysts predict 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.