Short Interest in Nitto Denko Co. (OTCMKTS:NDEKY) Rises By 159.1%

Nitto Denko Co. (OTCMKTS:NDEKY) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,700 shares, an increase of 159.1% from the August 15th total of 2,200 shares. Based on an average daily volume of 17,900 shares, the days-to-cover ratio is presently 0.3 days.

Nitto Denko Stock Performance

OTCMKTS NDEKY traded up $0.84 during trading hours on Thursday, hitting $40.47. The company had a trading volume of 7,798 shares, compared to its average volume of 16,037. Nitto Denko has a 52 week low of $30.07 and a 52 week high of $48.58. The firm has a 50 day simple moving average of $40.19 and a 200 day simple moving average of $41.89. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 16.04 and a beta of 0.92.

Nitto Denko (OTCMKTS:NDEKY) last issued its earnings results on Friday, July 26th. The technology company reported $0.83 EPS for the quarter. Nitto Denko had a return on equity of 12.58% and a net margin of 12.91%. The business had revenue of $1.60 billion during the quarter.

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.