NEC Co. (OTCMKTS:NIPNF) Sees Significant Drop in Short Interest

NEC Co. (OTCMKTS:NIPNF) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 252,720 shares, a drop of 70.7% from the May 14th total of 861,716 shares. Based on an average daily volume of 31,723 shares, the days-to-cover ratio is currently 8.0 days. Approximately 0.1% of the shares of the stock are sold short.

NEC Stock Up 2.2%

NIPNF traded up $0.53 during trading on Thursday, reaching $24.90. The company’s stock had a trading volume of 16,208 shares, compared to its average volume of 21,438. The firm has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $30.40. NEC has a 1 year low of $22.85 and a 1 year high of $41.00. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 15.18 and a beta of -0.47.

About NEC

NEC Corporation, traded as NIPNF on the OTC Markets, is a Tokyo-based multinational technology company founded in 1899 as Nippon Electric Company. Over more than a century of operations, NEC has established itself as a leading provider of information and communications technology (ICT) solutions for both public and private sector clients.

The company’s core business activities span network infrastructure, enterprise IT systems, and software integration. NEC delivers end-to-end solutions in areas such as telecommunications networks, data center platforms, and cybersecurity services.