Advantest Co. (OTCMKTS:ATEYY) Sees Significant Drop in Short Interest

Advantest Co. (OTCMKTS:ATEYY) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,600 shares, a drop of 98.2% from the September 30th total of 89,500 shares. Based on an average daily volume of 142,100 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Sanford C. Bernstein upgraded Advantest to a “strong-buy” rating in a research note on Monday, October 7th.

Advantest Stock Performance

OTCMKTS ATEYY traded down $1.39 during trading hours on Friday, hitting $51.52. The company had a trading volume of 60,729 shares, compared to its average volume of 228,748. Advantest has a fifty-two week low of $23.48 and a fifty-two week high of $55.00. The company has a quick ratio of 1.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $46.92 and a 200-day simple moving average of $40.57. The firm has a market cap of $38.02 billion, a P/E ratio of 88.83 and a beta of 1.48.

Advantest (OTCMKTS:ATEYY) last issued its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter. Advantest had a return on equity of 18.20% and a net margin of 14.65%. The firm had revenue of $889.88 million for the quarter, compared to analyst estimates of $680.79 million. Equities analysts predict that Advantest will post 0.8 EPS for the current year.

About Advantest

Advantest Corporation manufactures and sells semiconductors, component test system products, and mechatronics related products in Japan, the Americas, Europe, and Asia. The company operates through three segments: Semiconductor and Component Test System; Mechatronics Related Business; and Services, Support and Others.