Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Short Interest Up 92.6% in August

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 189,256 shares, an increase of 92.6% from the August 15th total of 98,250 shares. Based on an average daily trading volume, of 197,084 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.0% of the shares of the stock are sold short.

Nippon Steel & Sumitomo Metal Price Performance

Shares of Nippon Steel & Sumitomo Metal stock traded up $0.13 during trading on Thursday, hitting $4.57. 30,205 shares of the company’s stock traded hands, compared to its average volume of 290,423. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.71 and a quick ratio of 0.81. The firm’s fifty day moving average price is $4.15 and its 200 day moving average price is $3.81. Nippon Steel & Sumitomo Metal has a twelve month low of $3.32 and a twelve month high of $4.67. The company has a market cap of $24.57 billion, a PE ratio of -228.65 and a beta of 0.64.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $16.70 billion.

Nippon Steel & Sumitomo Metal Company Profile

Nippon Steel & Sumitomo Metal Corporation, now known as Nippon Steel Corporation, is a major Japanese steel manufacturer. The company produces a broad range of steel products, including flat-rolled steel, plates, bars, wire products, rails, structural materials and specialty steel used in automobiles, construction, machinery, energy infrastructure and other industrial applications.

In addition to steelmaking, Nippon Steel provides related services and products through businesses involved in engineering and construction, chemicals and new materials, machinery and equipment, logistics, and information systems.