Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Down – Here’s Why

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $4.37, but opened at $4.02. Nippon Steel & Sumitomo Metal shares last traded at $4.2759, with a volume of 3,731 shares changing hands.

Nippon Steel & Sumitomo Metal Stock Up 0.7%

The company has a market cap of $23.00 billion, a price-to-earnings ratio of -213.97 and a beta of 0.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.71. The stock’s fifty day moving average is $4.31 and its two-hundred day moving average is $3.84.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business 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 was a major Japanese steel producer formed in 2012 through the merger of Nippon Steel Corporation and Sumitomo Metal Industries. On April 1, 2019, the company changed its name to Nippon Steel Corporation. The company’s American depositary shares traded under the symbol NPSCY.

Nippon Steel produces a broad range of steel products, including flat products, plates, bars, wire rods, rails, structural steel, steel pipe and tubing, stainless steel, and electrical steel.