Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Sees Large Decrease in Short Interest

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 77,375 shares, a drop of 73.0% from the May 14th total of 286,608 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 624,379 shares, the short-interest ratio is currently 0.1 days.

Nippon Steel & Sumitomo Metal Trading Up 0.6%

NPSCY stock traded up $0.02 during trading on Thursday, reaching $3.43. 510,458 shares of the stock traded hands, compared to its average volume of 302,182. The firm has a market capitalization of $18.43 billion, a PE ratio of -28.58 and a beta of 0.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.12 and a quick ratio of 0.53. The business’s 50 day moving average price is $3.61 and its 200-day moving average price is $3.90. Nippon Steel & Sumitomo Metal has a 52-week low of $3.38 and a 52-week high of $4.79.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last issued its earnings results on Wednesday, May 13th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $17.89 billion for the quarter, compared to analysts’ expectations of $18.20 billion.

Nippon Steel & Sumitomo Metal Company Profile

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company’s product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.