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

Nitto Denko Co. (OTCMKTS:NDEKY) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 47,800 shares, a decrease of 29.6% from the February 13th total of 67,900 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,700 shares, the short-interest ratio is presently 1.5 days.

Nitto Denko Trading Up 1.2 %

Shares of Nitto Denko stock traded up $0.24 on Friday, hitting $19.69. 16,234 shares of the company traded hands, compared to its average volume of 63,037. Nitto Denko has a 12-month low of $12.80 and a 12-month high of $20.91. The firm’s 50-day simple moving average is $18.42 and its 200 day simple moving average is $21.47. The company has a market cap of $13.92 billion, a P/E ratio of 16.00 and a beta of 0.84.

Nitto Denko (OTCMKTS:NDEKY) last issued 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 return on equity of 12.60% and a net margin of 12.91%. Analysts predict that Nitto Denko will post 1.23 earnings per share for the current 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.