Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Decreases By 29.6%

Nitto Denko Co. (OTCMKTS:NDEKY) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 47,800 shares, a drop of 29.6% from the February 13th total of 67,900 shares. Based on an average daily volume of 32,700 shares, the short-interest ratio is currently 1.5 days. Approximately 0.0% of the shares of the company are short sold.

Nitto Denko Stock Up 0.7 %

OTCMKTS:NDEKY traded up $0.13 during mid-day trading on Tuesday, hitting $19.82. 26,954 shares of the stock traded hands, compared to its average volume of 62,308. Nitto Denko has a 12-month low of $12.80 and a 12-month high of $20.91. The company has a market cap of $14.01 billion, a PE ratio of 16.65 and a beta of 0.84. The business’s 50-day moving average price is $18.48 and its 200 day moving average price is $21.20.

Nitto Denko (OTCMKTS:NDEKY) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.27 EPS for the quarter. Nitto Denko had a net margin of 12.91% and a return on equity of 12.60%. Analysts anticipate 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.